U.S. Federal Reserve Holds Interest Rates at 22-Year High – RVBusiness – Breaking RV Industry News

The U.S. Federal Reserve voted Wednesday to hold interest rates at a 22-year high for a second straight meeting, as it moves to slow stubborn inflation without damaging the strong economy, according to a report by Industry Week.

The Fed’s decision to keep its benchmark lending rate between 5.25% and 5.5% gives policymakers time to “assess additional information and its implications for monetary policy,” the central bank said in a statement.

“The process of getting inflation sustainably down to 2% has a long way to go,” Fed Chair Jerome Powell said at a news conference Wednesday, referring to the Fed’s long-term target for interest rates.

Click here to read the full report by Industry Week.

Source: https://rvbusiness.com/u-s-federal-reserve-holds-interest-rates-at-22-year-high/