Source: CBS News
“The Federal Reserve on Wednesday left its benchmark interest rate unchanged amid resurgent inflation, but nearly half of its policymakers said they would support a rate hike later this year. The Federal Open Market Committee (FOMC) kept the federal funds rate, which affects borrowing costs for consumers and businesses, in its current range of 3.5% to 3.75%. Economists had widely expected the central bank to keep rates steady. … The central bank’s previous forecast, issued in March, forecast that the Personal Consumption Expenditures index, the Fed’s preferred inflation gauge, would end the year at an annual rate of 2.7%. But in today’s forecast, the FOMC members are penciling in inflation rising to an annualized 3.6% by year-end.” (06/17/26)
https://www.cbsnews.com/news/fed-meeting-fomc-today-kevin-warsh-interest-rates/