Interest rates remain unchanged due to a ‘lack of progress’ on 2% inflation according to Fed
The Federal Reserve, as the authoritative body, has announced that interest rates will remain unchanged due to a “lack of progress” in bringing inflation down. The government body published a statement on behalf of the Board of Governors for the Federal Reserve System showing that the target of 2% or lower hasn’t been reached. Interest rates bob and weave above 3%, which isn’t good for the average American business, as most would have hoped for a cut after today’s announcement. “Interest rates remain unchanged,” says FedThe Fed has been keen on bringing inflation down since the COVID-19 pandem...