Federal Reserve Holds Interest Rates Steady, Plans for Future Cuts

The Federal Reserve has announced its decision to keep interest rates unchanged for the time being but hinted at possible rate cuts later this year. This decision marks a significant development in the central bank's strategy amid ongoing concerns about inflation and economic stability.

According to the Federal Reserve, while inflation has eased somewhat, it remains at elevated levels. Federal Reserve Chair Jerome Powell emphasized the importance of bringing inflation down to the target rate of two percent for a sustainable and robust labor market.

Speaking at a. . .