The Federal Reserve held its meeting today to decide its next move on interest rates, leaving the main U.S. rate unchanged at 5.25% to 5.50%. This decision will have a major impact on consumers and businesses, with mortgage rates already at their highest levels in decades and credit card APRs at record highs. The Fed is confident that its series of rate hikes over the last 18 months will be enough to bring inflation under control, but it will be closely monitoring the economic situation in the coming months.
