#FOMCMeeting **Fed Holds Rates Steady Amid Inflation Concerns**

The Federal Open Market Committee (FOMC) kept interest rates unchanged at its latest meeting, maintaining the target range at 5.25%-5.50%. While inflation has eased slightly, it remains above the Fed’s 2% goal, prompting a cautious approach. Officials signaled potential rate cuts later in 2024 but emphasized the need for more data before easing policy. The labor market’s strength and persistent price pressures influenced the decision. Chair Jerome Powell noted that while progress has been made, the Fed seeks greater confidence before lowering rates. Markets now anticipate possible cuts in September, depending on upcoming economic reports.