The Federal Reserve decided to hold steady interest rates at their current level, but also signaled the possibility of future rate increases. This decision reflects the central bank’s ongoing effort to balance controlling inflation with supporting economic growth.

The Fed’s decision to pause rate hikes provides some relief to borrowers, who have seen interest rates on mortgages, car loans, and credit cards rise significantly over the past year. However, the central bank made it clear that this pause does not necessarily mean the end of rate hikes.

Economic indicators suggest a mixed picture, with inflation still above the Fed’s target rate but showing signs of cooling. The labor market remains strong, but there are concerns about a potential slowdown in economic growth.

The Fed will continue to monitor economic data closely and make future decisions based on the evolving economic outlook. Future rate hikes will depend on the trajectory of inflation and the strength of the economy.