news 
The Federal Reserve has chosen to maintain its benchmark interest rate steady in today’s meeting, adopting a “wait-and-see” approach as it assesses the impact of the Trump administration’s economic policies.
According to reports, the central bank will keep the federal funds rate within its current range of 4.25% to 4.5%, marking a continuation of its cautious stance since President Trump took office in January.
In its latest decision, the Fed has opted not to cut rates, which may lead to increased borrowing costs for businesses and consumers. This is particularly noteworthy given that the last time the Fed reduced interest rates was back in December 2024, when it trimmed rates by 0.25 percentage points.
It’s worth noting that a higher benchmark rate can make borrowing more expensive for individuals and companies, as it directly impacts the interest rates charged on loans and credit card debt. Conversely, when the central bank lowers its benchmark rate, loan rates tend to follow suit, making borrowing less costly.
The decision comes amidst concerns over potential inflationary pressures, which Fed Chair Jerome Powell has repeatedly emphasized are being closely monitored. Despite this, Mr. Powell did not see any immediate signs of increased inflation in the latest economic data.
During a press conference earlier today, President Trump publicly expressed his dissatisfaction with the Fed’s stance, criticizing Chairman Powell and claiming that he had “done a poor job.” The President went on to assert that the economy had actually improved significantly under his administration, citing a reduction in inflation.
The Federal Reserve has not commented directly on Mr. Trump’s remarks, but its decision to maintain interest rates underscores the central bank’s commitment to careful economic management.
As this story develops, we will provide updates as more information becomes available.
Source: www.cbsnews.com
