Fed's Harker expresses support for keeping policy rate on hold

This news is about the Federal Reserve (the Fed), which is like a bank for banks in the USA. They control interest rates, which affect how much it costs to borrow money. The Fed is trying to slow down inflation (when prices go up). They want to lower inflation without hurting jobs or the economy.

• The Fed wants to keep interest rates the same for now.
• Inflation is going down, but it's still too high.
• The economy is growing, but more slowly.
• The Fed is watching closely to see how the economy is doing and may adjust rates later.