FOMC Keeps Rates Steady, Powell Says No Rush for Cuts

The Federal Open Market Committee (#FOMC) decided to keep interest rates the same at their latest meeting. Fed Chair Jerome Powell mentioned there's no hurry to lower rates because they're already pretty high compared to what's considered neutral. 

He noted at the press conference that since the economy's doing well and the job market's strong, they can take their time. The rates are set between 4.25% and 4.5%, and everyone on the committee agreed on this. 

They dropped the bit about inflation moving towards the 2% goal from their statement, suggesting they're watching it closely. The unemployment rate's been good too, so no big changes needed right now. They've already cut rates by a full percentage point last year, but for now, they're hitting pause to see how things go.

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