Federal Reserve keeps rates unchanged

by ian

Interest rates will remain at their current two-decade high. The Federal Reserve decided against cutting its central rate yesterday, saying it needs “greater confidence” that inflation is slowing.

This follows a Commerce Department report last week that showed consumer prices rose 2.7% year-over-year in March.  According to CME FedWatch, financial traders have dialed back expectations to only one rate cut at the end of this year.