Federal Reserve Chairman Jerome Powell discussed why the central bank raised interest rates by a half percentage point, during a press conference after the Fed’s monetary policy meeting Wednesday.

The Federal Reserve sees a future for crypto in banking, with Chair Jerome Powell saying banks can serve crypto customers—if they manage risks responsibly. Fed Chair Jerome Powell Breaks Silence on Crypto: What the Fed Thinks About Bitcoin Now Federal Reserve Chair Jerome Powell held a postmeeting press conference on Jan. 29 following the central […]

Now's the time to take advantage of APYs as high as 5%. Skyhobo/Getty Images Federal Reserve policymakers voted to hold interest rates steady today, pausing rates for the fourth time this year. In its postmeeting statement, the Fed summarized its findings by noting slightly elevated inflation and a low unemployment rate, though the economic outlook remains uncertain. The latest decision means that households, which have been facing budget strains and increased living expenses, will continue to contend with high borrowing costs, from credit card APRs to mortgages. At the same time, anyone who is able to save money right now will continue to enjoy elevated returns on savings accounts and certificates of deposit.