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World Business Report: First broadcast 20/09/2023 14:32 GMT : US Fed to decide on interest rates

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US Fed to decide on interest rates

First broadcast 20/09/2023 14:32 GMT 

First broadcast 20/09/2023 14:32 GMT : US Fed to decide on interest rates

BBC World Service - World Business Report, US Fed to decide on interest rates

The US Federal Reserve is due to decide on interest rates and is expected to hold

The US Fed announces its decision on interest rates and expected to hold them steady. They currently sit at range of 5.25 to 5.5 percent - the highest they've been for 22 years.

US Federal Reserve officials are expected to keep rates on hold for now. They currently sit in a range of 5.25 to 5.5 percent - the highest they've been for 22 years. But one consequence is that this is gumming up the US housing market because people are reluctant to move and face higher monthly mortgage payments. 

Sam Fenwick hears from a US homeowner who is reluctant to downsize or scaleup mortgage payments because of the high interest rates. 

(Picture: Federal Reserve Chairman, Jerome Powell pictured at the House Financial Services Committee in Rayburn Building on June 21, 2023. Photo credit: Getty Images)

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First broadcast 20/09/2023 14:32 GMT : US Fed to decide on interest rates

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