Fed maintains rates following three rounds of cuts

The Federal Open Market Committee voted to maintain the target range for the federal funds rate at a range of 4.25% to 4.5%, citing an uncertain economic and inflation outlook.

Details: FOMC members voted unanimously hold target rates steady. The Fed’s rate-setters said they are strongly committed to supporting maximum employment and returning inflation to the Fed’s 2% objective.

Background: The decision to leave rates unchanged follows three consecutive rate cuts to round out 2024, which were the first cuts for the Fed since 2020.