Following a series of interest rate hikes earlier in the year, the Federal Reserve on Wednesday announced its widely expected decision to leave rates unchanged for the third consecutive meeting.
The projections provided by the Fed along with its monetary policy announcement also suggest the central bank plans to begin cutting rates next year.
In support of its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run, the Fed said it decided to maintain the target range for the federal funds rate at 5.25 to 5.50 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.