Federal Reserve Board chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, March 20, 2024. The Federal Reserve wraps up its two-day policy meeting Wednesday, May 1, 2024. Most analysts expect that the central bank will leave its benchmark borrowing rate alone for the sixth straight meeting. (AP Photo/Susan Walsh, File)
May 1, 2024
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May 1, 2024 11:15 a.m.
Federal Reserve says interest rates will stay at two-decade high until inflation further cools
The Fed’s more cautious outlook stems from three months of data that pointed to stubborn inflation pressures and robust consumer spending