Fed expected to hold interest rates steady

(CNN)– The Federal Reserve is expected to announce its interest rate decision today following a two-day meeting.

Reportedly, Fed officials aren’t expected to make any immediate changes to interest rates.

The annual inflation rate fell from 9.1% in June of 2022 to 3.1% in January of this year.

The inflation rate has been stuck around that level since.

Federal Reserve Chair Jerome Powell has previously said there’s no rush to cut rates but he will likely be pressured on how many cuts are in store.