Fed Holds Rates Steady at Powell's Final Meeting

The US Federal Reserve held its benchmark interest rate steady at 3.5, 3.75 percent at what is expected to be Jerome Powell's final meeting as Fed chair. The decision reflects continued caution around inflation and strain in the global economy. No rate cut or hike was announced. The Fed has kept rates elevated for an extended period as it tries to bring inflation durably back to its 2 percent target without triggering a sharp economic slowdown. Holding rates steady means borrowing costs for mortgages, auto loans, and business credit remain high. Markets closely watch Fed decisions because rate changes ripple through asset prices, corporate earnings, and currency values worldwide. Powell's expected departure marks a leadership transition at one of the world's most influential financial institutions. Who leads the Fed next and how that person reads inflation and growth data will shape the pace of any future rate moves. Investors and businesses will watch the incoming chair's early signals carefully.