Federal Reserve Maintains Interest Rates Amid Inflation Concerns

According to Odaily, Federal Reserve Chairman Jerome Powell announced that the central bank will keep interest rates at their current levels while awaiting further evidence of decreasing inflation. Powell noted that although long-term interest rates have risen, this increase is not related to inflation. The Federal Reserve is committed to extending stricter regulatory measures from large banks to smaller ones. Additionally, Powell highlighted concerns that if the Consumer Financial Protection Bureau (CFPB) were to be dissolved, there would be no federal regulatory body to oversee consumer protection reviews for large banks.