Fed Pauses Interest Rate Hikes But Warns More May Come If Needed

The Federal Reserve announced a pause on interest rate hikes during its November meeting, leaving rates unchanged at a 22-year high.

The Fed cited progress on slowing inflation but said additional rate hikes may still happen if economic indicators warrant it.

30-year mortgage rates are still near 8% even with the Fed's pause on hikes, putting pressure on the housing market.

The pause on hikes could provide relief for credit card holders, mitigating further increases in already high interest rates.

The Fed is closely monitoring jobs reports and inflation data to determine if more tightening is needed to cool the economy and lower inflation.