Federal Reserve Chair Holds News Conference

C-SPAN: The Federal Reserve decided to keep interest rates steady, with one potential rate cut later in 2024. Federal Reserve Chair Jerome Powell announced the decision during a news conference in Washington, DC. The U.S. decision is opposite of Europe, with the European Central Bank recently cutting its rates. The Federal Open Market Committee (FOMC) meets eight times a year to make monetary policy decisions, such as rate hikes and cuts based on economic data and conditions. The next meeting is scheduled for July 30, 2024.