Federal Reserve Chair Jerome Powell announces that interest rates will remain unchanged during a press conference at the Federal Reserve’s William McChesney Martin Building on June 12, 2024 in Washington, DC. Kevin Dietsch | Getty Images Federal Reserve Chairman Jerome Powell on Tuesday expressed satisfaction with progress on inflation over the past year but said…
People shop at a supermarket in Montebello, California on May 15, 2024. Frederic J. Brown | AFP | Getty Images Inflation is only taking baby steps to get back to where policymakers want it to be. A report due out Friday is expected to show more of that gradual progress. The Commerce Department’s measure of…
Federal Reserve officials left interest rates unchanged and signaled they were mindful of how stubborn inflation would prove, paving the way for a prolonged period of high borrowing costs. The Fed kept interest rates steady at 5.3 percent on Wednesday, leaving them at their highest level in more than two decades, where they have been…
