Fed holds interest rates steady — but Wall Street still expects cuts this year
Written by Black Hot Fire Network on January 31, 2024
The last time the Fed cut rates was at the onset of the pandemic, slashing rates to near-zero levels. Fed Chair Jerome Powell explained the cuts were needed to counter the dangers that Covid posed to the economy.
Before the pandemic, the Fed cut rates in 2019 as the trade war between the United States and China was heating up. The first of three cuts that year came in July.
