Federal Reserve holds its benchmark rate steady at today's FOMC meeting

The Federal Reserve decided to keep its benchmark interest rate unchanged at 4.25% to 4.5%. This decision reflects the Fed's "wait-and-see" approach amidst economic uncertainty due to tariffs from the Trump administration.

While the Fed noted that "growth of economic activity moderated in the first half of the year," job markets remain stable and inflation is still a concern. Predictions suggest a 63% chance the Fed may cut rates in the upcoming September meeting.

Economists believe the Fed will wait for clearer signals before adjusting rates further.