Fed Holds Rates Amid Ongoing Inflation Concerns
The Federal Reserve kept interest rates unchanged at its latest meeting, signalling a cautious approach as inflation remains above the 2% target.
Sarah Mitchell
The Federal Reserve voted unanimously to hold the federal funds rate steady at its May meeting. Officials cited persistent services inflation and a resilient labour market as key factors behind the decision. Chair Jerome Powell indicated that rate cuts remain on the table but will require greater confidence that inflation is durably moving toward target.