After three consecutive rate cuts, the U.S. Federal Reserve (Fed) decided to keep interest rates unchanged in its January meeting.
At the conclusion of its first policy meeting of 2025 on January 29, the Fed announced that it would maintain its benchmark interest rate at 4.25–4.5%. Previously, the central bank had implemented three consecutive rate cuts since September 2024.
Fed officials are waiting for further progress in cooling inflation, which showed signs of stalling toward the end of last year. The Fed also removed the phrase “progress on inflation” from its statement, which had been used in previous announcements.
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