Federal Reserve Signals Summer Rate Hold

Federal Reserve officials signaled in their latest meeting minutes that interest rates are likely to remain unchanged through the summer months.

For homebuyers, rates staying put means no relief on mortgage costs. For savers, high-yield accounts will maintain their current returns. For borrowers, credit card rates remain elevated.

The next Fed meeting is in six weeks. Inflation data released between now and then will be closely watched.

The Fed has been battling stubborn inflation in the services sector for over a year. While goods inflation has cooled, services — particularly healthcare and housing — continue to run hot.