The Fed announced Wednesday that rates will remain steady with no adjustment for the first time since the rate-hiking campaign which started in March of 2022.
Despite the news, U.S. national debt stands at a historic high, which Chairman Powell says is not his job. With Fed's decision, Powell emphasized that the pause is not a "skip".
Powell did mention that America's fiscal path remains "unsustainable" and that it needs to be addressed.
Stocks were mixed on Wall Street after the Fed meeting.
by Ryan Griffin