Fed holds interest rates steady: What that means for your credit cards, auto loans, mortgage and more

Published Wed, Jun 18 20252:00 PM EDTUpdated Wed, Jun 18 20252:44 PM EDT

By: Jessica Dickler

watch nowVIDEO04:50CNBC Fed Survey: Respondents continue to forecast weaker growth and higher inflation

The Federal Reserve announced Wednesday it will leave interest rates unchanged.

The Fed decision came amid demands from President Donald Trump to lower the key borrowing rate benchmark, and escalating attacks on Fed Chair Jerome Powell even hours before the announcement.

Trump has been pressuring Powell for a rate cut, arguing that maintaining a fed funds rate that is too high makes it harder for businesses and consumers to access cash, adding more strain to the U.S. economy. But Powell has said that the federal funds rate is likely to stay higher as the economy changes and policy is in flux.  LEARN MORE…

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