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Fed Holds Rates as Inflation Persists | Jersey News
The Fed’s holding steady on interest rates for now, refusing to cut them despite growing pressure — inflation’s still too high to ease up. After a round of rate hikes designed to cool the economy, they’re now in a cautious wait-and-see mode, watching data closely to avoid crashing the economy while bringing inflation down to 2%. Higher rates mean tighter wallets for consumers and slower business growth, creating ripple effects across the board. While rate cuts remain possible later this year, they’re conditional on clear, consistent signs inflation is cooling — so relief isn’t guaranteed. The…
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