US Federal Reserve (Fed) is leaving its key interest rate unchanged at a high level for the fourth time in a row. It remains in the range of 5.25 to 5.5 percent, as the Central Bank Council announced.
Commercial banks can borrow central bank money at this rate. In December, the US Federal Reserve announced interest rate cuts for 2024. But at the annual conference it was said that the time had not yet come for it. The reason for this is inflation. Fed Chairman Jerome Powell said the Fed is prepared to maintain high interest rates for longer.