(AP) — The Federal Reserve kept its key rate unchanged Wednesday at about 3.9% despite stubbornly high inflation, while providing little hint about the central bank’s next moves.
Another interest rate hike could be coming before the end of the year but it won’t likely be this month.
Inflation didn’t cool at all last month.
President Donald Trump has renewed his attacks on the Federal Reserve after it hiked its benchmark interest rate Wednesday, but the Fed matters less than broader economic trends when it comes to longer-term borrowing costs, economists say.
The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White House.
Wall Street is holding steady Wednesday as it waits to hear from the Federal Reserve, which traders expect will announce a hike to interest rates later in the day to help get the nation’s high inflation under control.
Newly-released notes from the Federal Reserve’s July meeting show support for a rate hike could be growing.
A new survey shows a greater number of Americans are worried about their finances.
Trump administration officials have pushed the office tasked with printing the nation’s money to move forward with designing a commemorative $250 bill with President Donald Trump’s portrait and signature, should legislation to create the new currency pass, according to two people with knowledge of the discussions.
More American families are struggling to afford food.
