Fed keeps rates unchanged but signals 2 more potential hikes this year
apnews.com
The Fed’s move to leave its benchmark rate at about 5.1%, its highest level in 16 years, suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation.
  • otterpop@lemmy.fmhy.mlEnglish
    4·
    1 year ago

    Whew, about time, I was afraid it would just keep going! Pretty insane to see bank accounts with interest rates > 4% again. The last time I saw that was 2007/2008 right before the big crash.

  • agarorn@feddit.deEnglish
    2·
    1 year ago

    Well, the interest rates are now higher than the inflation rate. The goal (communicated by the Fed) was to stop inflation. It trends downwards for 11 months now. The only reason to continue with interest hikes in their opinion should be if the inflation in fall ist still between 3 and 4%.