The Federal Reserve held interest rates steady on Wednesday, but indicated that rates could fall in the coming months if inflation continues to cool.
The U.S. economy grew substantially faster in the final months of 2023 than forecasters had expected. For all of last year, the economy grew 3.1% — defying forecasts of a likely recession.
The Federal Reserve held interest rates steady on Wednesday, amid signs of easing inflation. The central bank signaled that its benchmark borrowing rate may start to fall next year.
Consumer prices rose 3.1% in November from a year ago, marking a more moderate pace of inflation thanks in large part to falling gasoline prices.
The Federal Reserve left interest rates unchanged Wednesday, but left the door open to additional rate hikes in the future, if necessary, to curb inflation.
The U.S. economy continues to defy gravity, growing rapidly despite high interest rates. Consumer spending is powering the expansion, but it's not clear how long that can last.
The Federal Reserve left interest rates unchanged Wednesday, despite stubborn inflation, although it left the door open to an additional rate hike in November or December.
Federal Reserve Chair Jerome Powell said interest rates could stay elevated for an extended period to bring inflation to the central bank's 2% target.
Consumer prices rose 3.2% in July from a year ago, up slightly from the 3% annual rise see in June — but still within analyst expectations
Consumer inflation hit 3% in June, the lowest since March 2021. Though easing prices will be comforting to the Federal Reserve, inflation is still running higher than the central bank would like.
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The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.
Consumer prices in March were up 5% from a year ago. While inflation has eased from a four-decade high last summer, prices are still rising faster than the Federal Reserve would like.