Fed Unlikely to Cut Interest Rates Soon Despite Earlier Projections

Americans should not expect interest rate cuts soon, as the Federal Open Market Committee is likely to keep rates steady in its upcoming decision, influenced by a strong jobs report. The CME FedWatch Tool indicates a 99.4% chance of unchanged rates. Despite initial projections for three rate cuts this year, Fed Chair Jerome Powell has emphasized that the central bank will maintain current rates until the economy shows sufficient signs of cooling.