Federal Reserve Chair Jerome Powell
ShutterstockThe Federal Reserve on Wednesday said it would keep its key interest rates at around 5 1/4 to 5 1/2%. But Fed officials are prepared to change interest rates if risks require them to do so, the statement said.
Why is it keeping them in place? The Fed did not have confidence that inflation was headed sustainably down toward its goal of 2%, according to the statement. Still, inflation has significantly dropped from its June 2022 high of more than 9%.
The Consumer Price Index rose about 3.5% over a 12-month period ending in March, according to a Bureau of Labor Statistics report from last month.
Tags:none
Subscribe
0 Comments
Oldest