US Benchmark Interest Rate Freeze: Market Outlook

IconCryptoNewsTerminal Staff13 Jun, 2024

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US Benchmark Interest Rate Freeze: Market Outlook

The Federal Open Market Committee (FOMC) of the Federal Reserve (Fed) announced in an official statement that it has decided to freeze benchmark interest rates. This decision aligns with market expectations, maintaining the US benchmark interest rate at the current range of 5.25-5.50%. The FOMC's decision to freeze rates signals its ongoing commitment to fighting inflation while maintaining economic growth. The Fed has been raising interest rates throughout 2022 to combat rising inflation, which has reached a 40-year high in the United States. Market analysts expect the Fed to continue to raise rates gradually in the coming months, although the pace of these increases may slow. The Fed's monetary policy decisions will be closely monitored by investors and economists as they assess the impact on inflation, economic growth, and financial markets.

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