BREAKING: Jerome Powell refuses to change interest rates

by The Right Scoop

It’s just being announced that Jerome Powell has refused to change the interest rates at the Federal Reserve, claiming there’s still uncertainty about the economic outlook and that inflation is also somewhat elevated.

Here’s the news:

Federal Reserve held interest rates steady on Wednesday in a split decision that gave little indication of when borrowing costs might be lowered and drew dissents from two of the U.S. central bank’s governors, both appointees of President Donald Trump who agree with him that monetary policy is too tight.

“The unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated,” the central bank said in a policy statement released after the Federal Open Market Committee voted 9-2 to keep its benchmark overnight interest rate steady in the 4.25%-4.50% range for the fifth consecutive meeting.


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