As we begin the new month, the end of February gave us a new report from the Fed. Last week, the Fed had their monthly meeting to discuss the future of interest rates and whether there would be an increase or decrease that would affect the regular consumer.
Due to the slowing economy, the Fed has decided on another pause on interest rate increases or decrease. The Fed bases its decision on various factors, including the state of the global economy, tariff and trade relations both on a domestic and foreign scale, as well the on the current status of the U.S. economy.
January left us with a stagnant rate of 2.25% to 2.5% in interest rates, also citing a need to the economy before making a decision on increases or decreasing the rates.