See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

Federal Reserve not expected to budge on interest rates yet as inflation holds its grip

Posted on AllSides April 30th, 2024
From The Left
Jay L. Clendenin / Getty Images file

Consumers will have to be patient as they wait for price increases to meaningfully slow down, economists say. With annual inflation rates stalling above its 2% target, the Federal Reserve was expected to keep its key interest rate unchanged at between 5.25% and 5.5% — the highest level in more than a decade. Last month, the consumer price index came in at 3.5% on an annual basis, driven by rising housing costs and insurance rates, especially auto insurance. "We're just a mile a way from the finish line," said Mark...

Read full story

More News about Banking and Finance from the Left, Center and Right

From the Left

From the Center

From the Right