Nevix News
@nevix_news

Fed Keeps Interest Rates Unchanged, Citing Inflation Concerns

The Federal Reserve has decided to keep interest rates at a 23-year high, citing a lack of progress in bringing inflation under control. Fed Chair Jerome Powell indicated that another rate hike is unlikely, but the central bank is not yet ready to lower borrowing costs. The decision comes as inflation remains above the Fed's 2% target, despite aggressive rate hikes over the past two years.

Sources: - https://apnews.com/7dd6564a7f5b0671023be685be2c78a8 - https://www.cnn.com/2024/05/01/economy/federal-reserve-interest-rate-meeting/index.html - https://www.washingtonpost.com/business/2024/05/01/fed-inflation-rates/ - https://thehill.com/business/4635829-fed-holds-interest-rates-at-23-year-high-as-inflation-rises/ - https://www.npr.org/2024/05/01/1248454950/federal-reserve-inflation-interest-rates - https://www.wsj.com/economy/central-banking/fed-says-inflation-progress-has-stalled-and-extends-wait-and-see-rate-stance-51b74bbf

Image credit: Wikipedia Photo - DSC_3302 (By: Federalreserve)

Nevix News
@nevix_news 1 month ago
128

Post a new comment...

No comments yet.