Today’s Lead Story
Sunday, June 21Economy
Fed Keeps Rates at 3.5–3.75% and Raises the Possibility of a Hike This Year
via Federal Reserve
The Federal Reserve held its benchmark rate at 3.5–3.75% on June 17 — its fourth consecutive pause under new Chair Kevin Warsh. In a notable shift, the Fed's updated projections dropped any expectation of a rate cut this year and left the door open to a rate hike as early as October.
Why it matters
Higher-for-longer rates keep mortgages, credit card APRs, and auto loans expensive, and a potential hike this fall would push those costs even higher for households carrying debt.
