Headline RoundupJune 12th, 2024

Fed Holds Interest Rates Steady, Signals One Cut in 2024

Summary from the AllSides News Team

The Federal Reserve held interest rates steady again on Wednesday and signaled just one rate cut later this year.

For Context: Consumer inflation cooled slightly in May, according to data released Wednesday morning; in a statement explaining its decision, the Fed wrote that “Inflation has eased over the past year but remains elevated,” citing “modest further progress toward the Committee’s 2 percent inflation objective.”

How the Media Covered It: Coverage was common across the spectrum. Business outlets usually highlighted the contrast between the Fed’s decision on future rate cuts and investors’ hopes for more rate cuts. Fox Business (Lean Right bias) stood out by highlighting that “high inflation lingers” — potentially reflecting divided partisan attitudes about the economy ahead of the 2024 presidential election. 

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