Fed Holds Steady , With Interest Rates at , 2-Decade High.<br />On June 12, the Federal Reserve chose to hold <br />interest rates at a two-decade high while it <br />waits to see more signs of inflation going down.<br />'The Guardian' reports that officials at the United States <br />central bank expect to make a single rate cut <br />in 2024, according to the latest projections.<br />In previous projections, <br />policymakers expected the Fed <br />to make three cuts in 2024. .<br />At the latest meeting, the Fed chose to <br />keep rates at the same place they've been <br />for nearly a year, between 5.25% and 5.5%.<br />Despite recent data suggesting that inflation <br />may be easing, the Fed clearly doesn't see it moving <br />at a pace that would lead it to start cutting rates.<br />In May, inflation cooled slightly across the U.S., <br />according to the latest consumer price index, however <br />consumers remain frustrated over skyrocketing prices.<br />In May, inflation cooled slightly across the U.S., <br />according to the latest consumer price index, however <br />consumers remain frustrated over skyrocketing prices.<br />'The Guardian' reports that price growth has<br />slowed significantly since surging over 9% <br />in 2022, its highest level in a generation.<br />'The Guardian' reports that price growth has<br />slowed significantly since surging over 9% <br />in 2022, its highest level in a generation.<br />May saw prices for air fare and fuel go <br />down, inflation for grocery prices remained <br />flat, and shelter costs continued to rise.<br />May saw prices for air fare and fuel go <br />down, inflation for grocery prices remained <br />flat, and shelter costs continued to rise.<br />Overall, prices remained unchanged on a month-to-month <br />basis as the Fed emphasized that it would wait for <br />inflation to hit its previously-stated target of 2%.<br />The committee does not expect <br />it will be appropriate to reduce <br />the target range until it has <br />gained greater confidence <br />that inflation is moving <br />sustainably toward 2%, Federal Reserve statement, via Fox News
