Fed Sits Tight As Economic Hits Keep Coming

2025-05-08 11:09:00 ET

Summary

• The US Federal Reserve held its policy rate steady at 4.25%–4.50%, as Chair Jerome Powell admitted he doesn’t know whether rising inflation or surging unemployment will hit hardest.
• Indebted businesses and consumers feel the pressure of interest rates near multi-decade highs.
• As US 30-year fixed mortgage rates hover around 6.76%, new US home sales have fallen to 2019 levels, and existing home sales to a 14-year low.

Yesterday, the US Federal Reserve held its policy rate steady at 4.25%–4.50%, as Chair Jerome Powell admitted he doesn’t know whether rising inflation or surging unemployment will hit hardest....

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