The U.S. Federal Reserve met this week for the final time this year. The central bank held the interest rate at 5.25%-5.5% for the third straight time, as industry analysts had anticipated.
“Inflation has eased from its highs, and this has come without a significant increase in unemployment. That’s very good news,” Federal Reserve Chairman Jerome Powell said. “Recent indicators suggest that growth in economic activity has slowed substantially from the outsized pace seen in the third quarter.“
The policymakers indicate that cuts are expected in the new year as the rate of inflation eases and the economy slows.
As the Lord Leads, Pray with Us…
- For wisdom for the members of the Federal Reserve as they evaluate the U.S. economy.
- That the Lord works out His purposes through officials in all three branches of U.S. government.
- With gratitude for the third straight hold in interest rates and the hope of decreases in the near future.
