The Fed’s decision to hold rates steady before the midterms is significant because it maintains high borrowing costs amid persistent inflation, directly impacting the economy and political dynamics ahead of the elections.
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US central bank last month raised rates for first time since 2023, in move that infuriated Donald TrumpThe US Federal Reserve is expected to leave interest rates unchanged on Wednesday during its last rate-setting meeting before the midterm elections, keeping rates at one of the highest pre-election levels seen in over 20 years.Last month, Fed officials raised rates for the first time since 2023, citing rising inflation. Inflation has hovered for years above the Fed’s target rate of 2%, and for most of this year, the annualized inflation rate has remained above 3%. Continue reading...
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A deadly high-speed train collision in Spain has killed at least 30 people, with authorities warning the final death toll is likely to rise significantly.