The Federal Reserve is not cutting interest rates yet because there is a possible inflation spike on the horizon. Until the central bank can see exactly how it will play out, interest rates will remain where they are,

The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell said Tuesday, a stance directly at odds with

The Fed is prepared to hold interest rates steady as officials “wait to learn more about the likely course of the economy.” That was the message from Chair Powell in prepared testimony to Congress on Tuesday morning.