Your mortgage dreams just got more expensive as the Fed holds rates steady through summer. Credit card debt remains costly while savings accounts get a temporary reprieve from declining yields.

The Federal Reserve is tasked with creating a monetary policy that encourages price stability and maximizes employment. As a result, it attempts to keep inflation at around 2% a year because that has been identified as a level that allows consumers and businesses alike to make plans.

Susan Collins urges caution on Fed rate cuts, citing strong economy, resilient spending, and unclear inflation from tariffs.

The U.S. central bank’s decision to hold interest rates steady in June was unanimously supported, but officials were starting to splinter over the path forward.

President Donald Trump has frequently voiced dissatisfaction with the Fed’s “wait-and-see" approach to lowering interest rates under Powell.

Treasury yield is in focus today as it hovers near 3.90%, contrary to earlier claims of a spike to 3.948%. Reliable sources like Reuters and TradingEconomics confirm the yield remains steady, with only minor daily movements.

Federal Reserve Bank of Cleveland President Beth Hammack said she wants to see inflation lowered further before she’d support a cut in interest rates.

Some investors have staked out positions in futures markets that will profit if interest rates drop immediately after Jerome Powell’s term as chair ends

Gold held steady after the latest Federal Reserve minutes showed officials are divided over the outlook for interest rates.