US Federal Reserve Holds Interest rates above 5%

The US Federal Reserve voted to hold interest rates at a 22-year high. The Fed's decision reflects a balancing act between economic strength and inflation worries, maintaining a cautious approach to potential future monetary policy adjustments. The Fed remains cautious about further tightening to combat inflation, considering robust economic indicators like a strong labour market and high consumer spending. Though inflation has eased from its peak, persistent concerns remain. On the news, we observed a resurgence in tech stocks, gaining back some of their recent losses as broad equities and bonds finished the day strongly up.