Khaberni - The Federal Reserve (the central bank) of the United States kept the main overnight interest rate unchanged today, Wednesday, in a range between 3.50% and 3.75%, at its last official meeting under Jerome Powell's tenure ending in mid-May 2026.
The Federal Reserve indicated that the latest indicators suggest that economic activity continues to expand at a robust pace, while job gains have been low on average, and the unemployment rate has seen little change.
In the largest split since the 1990s, the Federal indicated that the vote for the policy came in at 8 to 4, where Steven Miron preferred a quarter-point interest rate cut, while Beth Hamack, Neel Kashkari, and Lori Logan opposed including an easing direction in the statement.
The Federal described inflation as "high," compared to "somewhat high" in the previous statement, pointing to the impact of high global energy prices.
