The Federal Reserve Board has decided to maintain a steady interest rate policy for the third consecutive time. Although the Fed has not yet accomplished its inflation target rate of 2 percent, projections from Treasury Secretary Yellen suggest this might happen by the end of next year.
This decision to hold steady comes despite the Fed having raised interest rates 11 times since March of 2022. The Federal Reserve is carefully observing the impact these rate hikes have on the real economy - from employment rates to consumer spending, as their decisions directly affect borrowing costs and thus the public's ability to spend.
