Federal Reserve holds interest rates steady

The Federal Reserve is holding interest rates steady between 5.25 and 5.5 percent- a decision announced this past week, but revised its outlook for rate cuts to just one in 2024. Federal Reserve Chair Jerome Powell said the bank doesn’t have the confidence to cut rates, even though inflation has eased from its peak levels. Certified Financial Planner, Jacqueline Schadeck, CFP, joins LiveNOW from FOX to explain how this affects your pockets.