Economy / FinanceJust In - ClassifiedNorth America

What the Fed’s Holding Pattern means for Bank Accounts, Loans, and More

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What the Fed rate decision means for bank accounts, CDs, loans, and credit cards The Federal Reserve is still in a holding pattern. At their May 1 meeting, Fed officials again held interest rates unchanged. Now, most Wall Street futures traders aren’t looking for a possible rate cut until November, and even then, the bets are nearly a toss-up. After inflation peaked at 9.1% in June 2022, the Federal Reserve worked to tame consumer prices with a series of 11 interest rate hikes over the ensuing months. With inflation at 3.5% in March, the Fed is in no hurry to…

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