The Federal Reserve needs more time before cutting interest rates, as hotter-than-expected inflation zaps any need for policymakers to take pressure off the economy.
Democracy Dies in Darkness
Fed leaves interest rates unchanged, signals worries in inflation fight
The central bank is making clear that interest rate cuts are still a ways off.
Updated May 1, 2024 at 4:16 p.m. EDT|Published May 1, 2024 at 2:00 p.m. EDT