US central bank holds interest rates at 22-year high, but expects to cut rates three times next year as inflation continues to fade
Officials at the Federal Reserve expect to cut interest rates three times next year as US inflation continues to fade from its highest level in a generation. The news sparked a rally on Wall Street with the Dow Jones index closing at a record high.
Policymakers opted to hold rates steady at a 22-year high at their latest meeting, as expected, while they scrutinize the impact of their campaign to bring down price growth.
About Author
More Stories
Chinese fishing fleets using North Korean forced labour in potential breach of sanctions, report claims
Nigeria sues crypto giant Binance for $81.5bn in economic losses and back tax
Nvidia beats Wall Street expectations in first earnings after DeepSeek’s AI debut