Today’s Lead Story
Sunday, August 2Economy
Fed Holds Rates Steady for Fifth Straight Meeting as Three Officials Push for Hike
via Federal Reserve
The Federal Reserve voted 9 to 3 on July 29 to keep its benchmark rate in a range of 3.5%–3.75%, extending its longest consecutive pause since the 2008 cycle. Three regional bank presidents dissented, each preferring an immediate quarter-point hike because inflation has remained above the 2% target for more than five years.
Why it matters
Rates staying elevated means borrowing costs on credit cards, car loans, and home equity lines remain high — but savers in high-yield accounts and CDs continue to benefit from some of the best returns in years.
