The Federal Reserve Keeps Rates High

The Economy Sings: Here I Go Again

Fed Chair Jerome Powell didn’t pivot on interest rate today. He didn’t flinch. With inflation still sticky, unemployment slowly creeping up, and consumer debt surging, the Federal Reserve Chair chose to stand pat. Markets were hoping for a lifeline on future rate cuts. Instead, Powell offered a mantra straight from a glam-rock ballad: “Like a drifter, I was born to walk alone.” And just like that, the Fed doubled down on its lonely path of keeping elevated interest rates (about 4.5%)—even as the road ahead looks increasingly uncertain.