The Federal Reserve opts to maintain current interest rate levels

14:08 ET (19:08 GMT) January 29, 2025

CNN —

The Federal Reserve (Fed) halted interest rate cuts on Wednesday in its first key decision of President Donald Trump's second term.

This is a move that will likely fuel tensions between the Central Bank and the new president, who has argued that he should have some influence over Fed policy.

Central Bank officials chose to keep borrowing costs high while waiting for further progress on inflation.

Although the Fed does not seem to be in a hurry to lower rates, economists warn that Trump's tariff threats, mass deportation policies, and the focus on boosting domestic oil production could end up further fueling inflation.

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