The Fed just paused on raising interest rates. Here's what it means for jobs, prices, and your bank account this summer.
may be winding down, but for those looking to switch, it's still a good time to do it.While inflation has slowed, it's still high relative to what the US has seen in the past, and sits above the Fed's 2% target. Consumers can feel it.
Food is another positive as price growth was pretty much steady in May. Though food prices aren't sensitive to interest rates, Joe Brusuelas the chief economist at RSM wrote One big thing to watch is prices for services, which increased by 4.6% annually in May. Some economists worry services will be sticky, and could drive higher inflation later in the year.that the regional banking crisis kicked off by the failure of Silicon Valley Bank and First Republic this year is"the wild card."
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