US Central Bank Keeps Interest Rates High, Hints at Future Cuts
The Federal Reserve decided to keep interest rates at their current level, which is the highest in 23 years. They didn’t make any cuts yet, but they’re expected to do so later this year. This decision affects things like loans and mortgages.
The Fed is watching closely to see when it should lower rates, especially as other countries’ central banks are facing similar choices. They want to be sure that inflation is really going down before they make any moves.
Some people think that cutting rates is a good idea because it can help slow down rising prices. But the Fed doesn’t want to rush into anything and risk making the wrong decision. They want to see more data first.
Even though the economy has slowed down a bit, it’s still doing pretty well overall. The job market is strong, and growth is happening. So, the Fed wants to be careful not to do anything that might hurt the economy.
Overall, the Fed wants to take its time and make sure it’s making the right choices for everyone.
Source : BBC
https://www.bbc.com/news/business-68157267