The Federal Reserve held interest rates steady on Wednesday, amid signs of easing inflation. The central bank signaled that its benchmark borrowing rate may start to fall next year.
The Federal Reserve held interest rates steady today, amid signs of cooling inflation. Policymakers also offered some forecasts of what might be in store next year.
Inflation dipped to 3.1% last month — less than half what it was at the beginning of the year. Falling gasoline prices helped to offset rising rents and medical bills last month.
Despite job growth, low unemployment and record spending, Americans are in a sour mood about the economy — and that could spell trouble for President Biden's reelection chances.
U.S. employers added 199,000 jobs in November, as the unemployment rate fell to 3.7%. The resolution of the UAW and Hollywood actors' strikes helped to boost those numbers.