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High interest rates aren’t going away anytime soon – a business economist explains why

By Christopher Decker, Professor of Economics, University of Nebraska Omaha

The Federal Reserve held interest rates steady at its May 1, 2024, policy meeting, dashing the hopes of potential homebuyers and others who were hoping for a cut. Not only will rates remain at their current level – a 23-year high – for at least another month, there’s little reason to believe the Fed will start tapering until the fall. Indeed, if inflation starts to heat back up,…

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