Federal Reserve Keeps Interest Rates Unchanged at 5.25%-5.50% for 8th Consecutive Time

Jul 31, 2024, 06:00 PM

The US Federal Reserve has decided to keep the federal funds rate unchanged at 5.25% to 5.50%, marking the eighth consecutive time the rate has been held steady. This decision aligns with market expectations, as the previous, forecasted, and actual rates were all at 5.50%. The current rate remains the highest since 2001. Economists had anticipated a unanimous decision to maintain the interest rates within this range. The Federal Open Market Committee (FOMC) meeting concluded with no indication of an imminent rate cut, despite ongoing market speculation.