The Federal Reserve is set to hold interest rates steady at their highest pre-election levels in over two decades during its final meeting before the midterm elections, maintaining a policy that follows a rare rate hike last month. The move comes as inflation persists well above the central bank’s 2% target, with annualized price increases remaining above 3% for much of the year. Critics, including former President Donald Trump, have expressed frustration over the decision, which aims to curb inflation amid economic uncertainty. The Fed’s latest stance reflects ongoing tensions between controlling rising costs and supporting economic stability ahead of a politically sensitive period.
US central bank last month raised rates for first time since 2023, in move that infuriated Donald TrumpThe US Federal Reserve is expected to leave interest rates unchanged on Wednesday during its last rate-setting meeting before the midterm elections, keeping rates at one of the highest pre-election levels seen in over 20 years.Last month, Fed officials raised rates for the first time since 2023, citing rising inflation. Inflation has hovered for years above the Fed’s target rate of 2%, and for most of this year, the annualized inflation rate has remained above 3%. Continue reading...
