rates

As expected, the FOMC held the Fed Funds rate unchanged at a target range of 5.25% to 5.5%. Current market expectations are that we’re at the peak rate for this cycle and that modest cuts will come through 2024.

As expected, the FOMC has held the Federal Funds rate flat in a target range of 5.25% to 5.50%. But even as the Fed continues its pause, rates for home lending and deposits are likely to remain elevated. That’s because key inflation and macroeconomic indicators take time to play out, and a continuing tidal wave of low-interest renewing CDs will intensify the competition for rate shoppers.