OAN Staff Alicia Summers
6:11 AM – Thursday, August 1, 2024
The Federal Reserve decides to leave interest rates unchanged, but hints at possible cuts soon. Chairman Jerome Powell announced the decision moments ago, following the July meeting. The central bank has kept rates at 5.25% to 5.5% for the past year, the highest level in two decades. While last week’s economic reports indicate that inflation has cooled, the Fed is hinting that rate cuts may be just weeks away. Ted Thatcher, President of Bright Lake Wealth Management joins Alicia Summers.