Federal Reserve Holds Rates Steady

The U.S. Federal Reserve has reaffirmed its decision to keep interest rates steady within the range of 3.5% to 3.75%, maintaining these levels since early 2026, amid signs of declining inflation indicators and weak job growth. Data showed the Consumer Price Index (CPI) dropped by 0.4% in June, the largest decline since April 2020, with annual inflation slowing to 3.5%. Nevertheless, inflation remains high compared to the Fed’s 2% target, primarily due to rising energy prices, which decreased on a monthly basis but are still 15.7% higher than last year. On the other hand, Personal Consumption Expenditures (PCE) data revealed the core index rose to 2.6% annually, exceeding the target, indicating consumer spending continues and supports economic activity despite rising costs. The labor market showed a slowdown in job additions, with the unemployment rate rising to 4.2%, and the number of long-term unemployed reaching 1.9 million. Despite these signs, the Fed decided to keep interest rates unchanged to allow time to observe the impact of inflation, while President Trump continues to push for lower interest rates.

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