Federal Reserve Keeps Benchmark Interest Rate Unchanged Amid Decrease in May Inflation

Thursday, 13 June 2024, 13:35
The Federal Reserve opted to maintain its benchmark interest rate as inflation rates decreased in May, with a modest 3.3% increase year-over-year. Despite remaining above the Fed's target, the decision signals a cautious approach to economic conditions. CBS News business analyst Jill Schlesinger provides insights on the implications for individual finances.
CBS News
Federal Reserve Keeps Benchmark Interest Rate Unchanged Amid Decrease in May Inflation

Federal Reserve Decision

The Federal Reserve decided to keep the benchmark interest rate stable despite the recent decline in inflation.

Inflation Trends

Inflation rates showed a modest 3.3% rise over the year, although still surpassing the Fed's desired levels.

Expert Analysis

CBS News business analyst Jill Schlesinger offers clarity on the significance of the Fed's decision for personal financial situations.

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