Fed holds interest rate steady for second time in a row
Nov. 5 (ZFJ) — The Federal Reserve maintained the interest rate at 5.25-5.50% for the second time in a row on Wednesday, Nov. 1.
This rate was set on July 26 and held steady on Sept. 20. The Fed has been aggressively increasing the interest rate since it raised it from 0.00-0.25% to 0.25-0.50% in March 2022 in order to fight stubborn inflation.
Economic activity has been expanding at a strong pace, said Federal Reserve Chair Jerome Powell.