Today’s Lead Story
Tuesday, August 4Economy
Fed Holds Benchmark Rate Steady for Fifth Time in 2026 as Inflation Lingers
via CNBC
The Federal Reserve voted 9-3 on July 29 to leave its benchmark rate in the 3.5%–3.75% range, with three regional bank presidents dissenting in favor of a cut. Inflation has held above the Fed's 2% goal for more than five years, keeping the majority of policymakers cautious.
Why it matters
While the Fed stays on hold, borrowing costs on mortgages, auto loans, and credit cards are unlikely to fall — but savers can still earn meaningful yields on high-yield accounts in the near term.
