"Federal Reserve's Rate Pause: Impact on US Financial News and Your Money"
TL;DR Summary
The US Federal Reserve has decided to hold interest rates steady for June, but has signaled that two more rate hikes are likely in 2023. Inflation has risen by 0.1% in May, bringing the annualized rate down to 4%. Initial unemployment claims have remained steady at 262,000, indicating a softening labor market. The average weekly 30-year fixed rate for mortgages has gone down slightly but is expected to remain elevated. Social Security payments will be made on various dates throughout June.
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- Fed's July decision feels like high bar to skip rate hikes again, says WSJ's Timiraos CNBC Television
- Why the Fed paused its rate hikes: It’s tired of playing a giant guessing game CNN
- Here's how the Federal Reserve's pause in interest rate hikes affects your money CNBC
- What the Fed rate pause means for your money The Washington Post
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