- The Federal Reserve is expected to hold interest rates unchanged at its last rate-setting meeting before the midterm elections, keeping rates at one of the highest pre-election levels in over 20 years.
- Fed officials raised rates last month for the first time since 2023, citing rising inflation. The annualized inflation rate has stayed above 3% for most of this year, above the Fed's 2% target.
- Donald Trump criticized the rate increase and said interest rates in the United States should be 1% or less.
Quotes
“interest rates in the United States should be 1% or less”