Feds Pause Interest Rates – Higher Rates Coming Soon?

With stubbornly high inflation, the Federal Reserve maintained its key rate at about 3.9%, giving little indication of what the central bank will do next. In a statement issued following its two-day policy meeting, the Fed stated that “inflation remains elevated.” According to the statement, delaying an increase will enable “the accumulation of more information” that will aid in deciding what course of action the Fed should take “to ensure a timely return of inflation” to the central bank’s 2% target.

In an attempt to ensure a “timelier” return of inflation to its target, the Fed recently increased its benchmark rate for the first time in three years. Congress assigns the Fed the responsibility of fighting inflation, which it accomplishes by raising interest rates to curb borrowing and spending and slow price increases.

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