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Federal Reserve Chair Jerome Powell testifies to the Senate Banking Committee on the second of two days of semi-annual testimony to Congress in Washington.
Business

Inflation lingers, but will interest rate change?

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If you’re hoping for an interest rate cut from the Fed today, don’t hold your breath. Chances of a rate cut from the Federal Reserve are slim to none, forecasters say, when the panel announces its interest-rate decision at the close of a two-day meeting.  That means the Fed’s benchmark interest rate will likely remain

Business

The federal interest rate sees no change

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The Federal Reserve on Wednesday kept the key interest rate unchanged and signaled that only one cut is expected before the end of the year. With markets hoping for a more accommodative central bank, Federal Open Market Committee policymakers took two rate cuts off the table after their two-day meeting from three indicated in March.

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