Fed holds interest rates steady as it keeps close eye on inflation but Americans still saddled with high prices ...Middle East

The Federal Reserve announced it will maintain interest rates as inflation continues to impact prices. The central bank is in charge of setting interest rates to stabilize inflation. The Fed has maintained rates since July The Fed has left interest rates stable — at a rate between 5.25% and 5.5% — since July. That’s the highest rate in decades. Interest rates rose rapidly over the past several years as the Fed attempted to slow rapid inflation. As inflation cooled down in 2023, rates leveled off. Fed officials said the improving economic situation meant the rate did not have to go up further. Specifically, the bank’s announcement cited high growth and low unemployment

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