The Federal Reserve on Wednesday opted for no change in the interest rates, a decision that impacts Americans rich and poor alike for the costs of borrowing on things like home loans and car financing, even though a report suggested a change is needed as the “market undergoes a slowdown that some argue should necessitate lower interest rates.”
The board’s monetary policy committee maintained its rate schedule at 3.5% to 3.75%.
The decision had been expected, even though President Donald Trump repeatedly has advocated for lower rates to provide a surge to the American economy.
Inflation, a part of the discussion, had reached as high as 9.1% under Joe Biden’s tenure.
Fed governor Stephen Miran, who was appointed by Trump, voted against the decision, preferring a quarter percentage point rate cut.
Recent reports show the economy shed 92,000 jobs in February and the unemployment now is 4.4%.
“In the central bank’s preferred gauge, the personal consumption expenditures index, inflation fell one-tenth of a percentage point in January to 2.8%. Inflation has been a bit lower in the more widely watched consumer price index,” the report said.
The decision comes amid turmoil at the Fed, which is under investigation by the Department of Justice over massive cost overruns in a billion dollar project to remodel the agency’s facilities.
BREAKING: The Federal Reserve has left interest rates UNCHANGED, despite President Trump demanding rates be LOWERED for the American people
Fed funds rate remains at 3.75%
Chairman Jerome Powell is on his way out in the coming months, set to be replaced with Trump’s pick… pic.twitter.com/6Uja33jugi
— Nick Sortor (@nicksortor) March 18, 2026
