The US Federal Reserve has kept benchmark interest rates at 4.25% to 4.5% following the 2-day May FOMC meeting, which held bweteen May 6 and 7. This comes despite calls from the US President Donald Trump for FED Chair Jerome Powell to lower rates since inflation is down.
FOMC Meeting: US Federal Reserve Keeps Rates Unchanged
In a press release, the Fed announced it has decided to maintain the target range for the federal funds rate at 4.25% to 4.5%, which is in line with market expectations. Traders had bet in favor of Jerome Powell and the committee keeping rates steady at this May FOMC meeting.
This marks the third consecutive meeting in which the Fed has decided to leave rates steady, following the January and March monetary policy meetings. Meanwhile, before then, the US Central Bank had cut rates consecutively in September, November, and December, 2024.
Jerome Powell and the FOMC remain adamant about cutting rates despite several calls from Donald Trump. The US president has asserted that there is no inflation, which is why he believes this is the perfect time for them to lower rates.
The post Breaking: FED Leaves Interest Rates Unchanged at FOMC Meeting appeared first on CoinGape.
