Reported about 1 year ago
The Federal Reserve is expected to keep interest rates steady in its upcoming decision due to a strong jobs report and high inflation. As a result, Americans may have to wait longer for any interest rate cuts, with Fed Chair Jerome Powell emphasizing the need for patience and confidence in the economy's cooling down. While the labor market showed strength in May, the possibility of rate cuts later this year remains. Some lawmakers are urging the Fed to lower rates following the European Central Bank's recent rate cuts.
Source: YAHOO