The Federal Reserve kept its thumb squarely on the pause button at this week’s meeting. That’s good news for your bank accounts, since another rate cut would probably mean a lower return on your money.
At the meeting, held January 28-29, the Fed left interest rates unchanged at 4.25%-4.50%. The central bank has been on pause since September 2024, when it delivered the last of three rate cuts designed to keep the U.S. economy humming as inflation cooled.
