Fed Keeps Interest Rates the Same While Waiting to See Effects of Other Hikes: Economist

The Federal Reserve is keeping interest rates the same at around 5 to 5.25 percent but is hinting at two more possible rate hikes this year. This comes after 10 consecutive rate hikes. NTD spoke with former Chief Economist of the White House's Office of Management and Budget, Vance Ginn. Ginn stated that the Federal Reserve is currently on a pause, carefully considering the timing of rate hikes due to the delayed impact they have on the economy. He mentioned the potential for the Fed to raise rates during their upcoming July meeting and expressed the possibility of the nation reaching a 6 percent rate by the conclusion of the year.