It takes time for the Fed’s decisions to filter through the economy — and then even more time for consumers to see the difference.

Policy changes: When the Fed adjusts the federal funds rate, it spills over into many aspects of the economy, including mortgage rates. The federal funds rate affects how much it costs banks to borrow money, which in turn affects what banks charge consumers to make a profit.

Consumers and traders are waiting to learn if the Fed’s pause is a one-meeting hold or the start of a longer stretch.

After three successive interest rate cuts, the Federal Reserve on Wednesday made no change in its benchmark lending rate amid new economic uncertainties over the outlook for inflation and President Trump's continued threats of new tariffs and other measures.

The decision reflects a cautious stance as the Fed assesses the direction of inflation and policies President Trump may implement.

The Federal Reserve on Wednesday hit pause on interest rate cuts in its first key decision of President Donald Trump’s second term.

Traders on Friday kept bets that the Federal Reserve will wait until June to resume interest rate cuts, after government data showed inflation by the U.S. central bank's targeted measure ticked up to 2.