The Federal Reserve kept interest rates unchanged at its latest meeting this week, leaving the benchmark federal funds rate at a range of 4.25% to 4.5%.

The Fed is in a “good place to wait and see” before moving on interest rates, Powell said Wednesday. “We don't think we need to be in a hurry. We think we can

As expected, interest rates didn't budge today. You can blame tariffs. At the conclusion of its May 6-7 meeting today, the Fed voted to hold rates steady for the third consecutive time. Fed Chair Jerome Powell remains steadfast in monitoring labor market conditions and inflation pressures before making any cuts.

Here’s how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.

Fed Chair Jerome Powell announced the decision not to lower interest rates, remaining at 4.25 to 4.5.