Fed seen keeping interest rates steady

By Agence France-Presse

May 02, 2024 12:26 am

WASHINGTON, D.C.: The US Federal Reserve (Fed) is expected to hold interest rates steady for a sixth straight meeting, with a summer start to cuts looking less likely owing to stubborn inflation.

For months, the US central bank has maintained its benchmark lending rate at a 23-year high to cool demand and rein in price increases — with a slowdown in inflation last year fueling optimism that the first cuts were on the horizon.

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