The Federal Reserve will hold interest rates steady amid high consumer confidence and a falling inflation rate, according to a Jan. 31 report from NBC News.
The current rate could be enough to knock inflation rates to the bank's target of 2%, according to the report.
The federal funds target rate has been 5.25% to 5.5% since last summer after 11 increases beginning in March 2022.
Additionally, two gauges of consumer confidence show that Americans are feeling more upbeat about the economy.