BREAKING: In his last FOMC meeting as Fed Chair, Jerome Powell and the Fed have chosen to keep rates unchanged. In March 2020, the FOMC under Chair Powell brought the federal funds rate down to a target range of 0.0% to 0.25%. Inflation rose to the highest level in 40 years by 2022. In July 2023, the Fed raised the benchmark rate to a range of 5.25% to 5.50%, the highest rates we have seen in over 2 decades. We will be ending his tenure now with rates at 3.5-3.75%.
