Fed Plans to Pause Interest Rate Cuts, Again. Here's Why You Should Care

The central bank is widely expected to keep its benchmark interest rate at a range of 4.25% to 4.5%. Wong Yu Liang/Getty Images Interest rates aren't likely to budge today. You can blame tariffs. The Fed is expected to keep rates steady for the third consecutive time at the conclusion of its May 6-7 meeting. Fed Chair Jerome Powell remains steadfast in monitoring labor market conditions and inflation pressures before making any cuts. Despite pressure from the White House to lower borrowing rates, there's too much uncertainty over the impact of the Trump administration's economic agenda, specifically the trade war and government slashing. Economists are concerned that tariffs will unleash more inflationary pressures. In the meantime, US households are curbing spending amid fears of a recession, and investors are cutting their losses in a plunging stock market. There's wide-ranging concern over employment, taxes, prices, social programs and just about everything else that affects our ... Read full article.