The Federal Reserve announced on Wednesday afternoon after its January meeting concluded that it would hold off on making a new cut in the interest rate, after stunning investors in September 2024 with a full half a percentage point cut. More recently, however, Chairman Jerome Powell and company made several, more modest, downward moves in November and December.
It also followed a dismal farewell in the form of December’s Consumer Price Index (CPI) report from the Biden Labor Department, as we wrote.
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Here’s more on the announcement, from CBS News MoneyWatch’s report (linked above):
Borrowers hoping for more financial relief from the Federal Reserve may have a wait on their hands, as the central bank is hit the…
