The Federal Reserve Board last month unanimously supported a pause in planned interest rate cuts.
The Associated Press on Feb. 19 reported that Fed board members at their last meeting were concerned that President Donald Trump’s proposed tariffs and mass deportations of migrants, along with strong consumer spending, could push inflation higher this year.
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By Emilio DiSpirito IV License Partner | Private Office Advisor Engel & Völkers Oceanside www.DiSpiritoteam.com…
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Fed officials in December were planning for two rate cuts this year but economists and investors now are expecting only one cut, perhaps in the summer.
The Fed began raising its key interest rate in March 2022, to help slow borrowing and spending. The Fed then cut its benchmark interest rate three times last year,
Inflation peaked at 9.1% in June 2022. It’s now 2.9%, still above the Fed’s 2% target.
