Federal Reserve Officials Decide To Hold Rates Steady Once Again

Rates will remain between 5.25% and 5.50%. It continues to sit at the highest point reached in 23 years.

Federal Reserve officials decided to hold short-term interest rates steady Wednesday.

Rates will remain between 5.25% and 5.50%. It continues to sit at the highest point reached in 23 years.

Interest rates were raised to combat inflation but keeping it the same could mean that inflation could be close to reaching the feds 2% target.

Federal Reserve Chairman Jerome Powell hinted that an interest rate cut is possible when the fed meets again in September, but that is not an official decision.