The Fed rate decision meeting is today. Here are the odds of a cut.

The Federal Reserve is expected to maintain its interest rate at 5.25% to 5.5% during today's meeting, despite earlier predictions of a rate cut. Due to persistent inflation, with consumer prices rising significantly, experts now foresee potential rate reductions later in 2024, possibly in September or November. This decision means continued high borrowing costs for consumers on loans and credit, though it benefits savers with higher interest rates on savings accounts and CDs.