Federal Reserve pauses interest rate hikes as inflation and economy slow down

The Fed concluded Wednesday that the situation had improved enough for it to take a wait-and-see approach.

The string of large rate hikes took interest rates from a historic low of almost zero to their highest level in more than 20 years. That meant interest rates on credit cards and mortgages also rose to long-time highs, while payments from Treasury bonds and interest rates on checking accounts are the strongest they've been in years.

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Federal Reserve is poised to leave rates unchanged as it tracks progress toward a ‘soft landing’Since Federal Reserve officials last met in July, the economy has moved in the direction they hoped to see: Inflation continues to ease, if more slowly than most Americans would like, while growth remains solid and the job market cools.
Source: KTVU - 🏆 465. / 53 Read more »