Fed holds interest rates at 23-year high as inflation hits plateau
The Federal Reserve kept interest rates on hold at a 23-year high on Wednesday as the battle to curb inflation drags on further into 2024. The announcement came following a two-day meeting of the central bank’s monetary policy committee which raised borrowing rates to a range of 5.25%-5.5% from near zero in March 2022 amid […]
Prices stayed flat in May as inflation hit plateau
Data released Wednesday by the Labor Department showed consumer prices did not rise overall in May, with the annual inflation rate lower than expected. The Consumer Price Index (CPI), a common measure of inflation, was unchanged over the past month and up 3.3% over the past year. Consensus forecasts had expected the CPI to have […]