www.allsides.com
The Fed keeps interest rates on hold — and signals cuts aren’t coming soon
The Federal Reserve held interest rates steady Wednesday for the fourth-straight meeting‚ keeping its benchmark lending rate at a 23-year high‚ as Wall Street eagerly awaits rate cuts sometime this year.
The central bank has raised rates 11 times since March 2022 in a bid to combat the fastest inflation in decades. Price hikes have eased substantially since then‚ inching closer to the Fed’s 2% target. That means the Fed is due to cut...