Federal Reserve Holds Key Interest Rate at More Than 5% as Inflation Battle Drags On

Friday, March 22nd, 2024

The Federal Reserve held its key federal funds interest rate at about 5.5% for March as it continues to fight persistent inflation in the economy.

In its latest statement, the central bank's Federal Open Market Committee noted that job gains remain strong and unemployment remains low, while price growth remains elevated, even as it has cooled since peaking in 2022.