Federal Reserve leaves interest rates unchanged

The Federal Reserve is keeping interest rates the same. People nationwide have been hoping for cuts, which would translate into lower borrowing rates for mortgages, car loans and credit cards. At one point, traders were hoping for up to six rate cuts in 2024. Now, investors are expecting one rate cut later in the year, however, there might not be any at all due to inflation. We spoke with Jason Matthews from Matthews Financial and Insurance Solutions to talk about what this means for borrowers.