Fed Cites Lack of Progress on Inflation, Holds Rates Steady
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The Federal Reserve has decided to hold interest rates steady at 5.25% to 5.5% due to concerns about inflation. The decision comes after a slew of data indicating lingering price pressures in the US economy. The Fed is seeking more evidence that price gains are cooling before considering cutting interest rates from their current two-decade high.

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https://www.bloomberg.com/news/articles/2024-05-01/fed-cites-lack-of-progress-on-inflation-holds-rates-steady