Federal Reserve holds rates steady, keeping cautious rate-cut outlook
Fed left short-term interest rates unchanged at 3.50-3.75%, flagged only one rate cut expected in 2026, and Powell said he'll stay on until successor confirmed.
Why it matters
That means borrowing costs stay elevated, keeping pressure on mortgages and credit-but cutting later this year may offer relief for investors.
The big picture
Interest costs for households and valuations for portfolios hinge on if and when that single cut arrives.