The Daily Money: No action on interest rates

Good morning! It's Daniel de Visé with your Daily Money.

The Federal Reserve kept its key interest rate unchanged again Wednesday and scaled back its forecast from three rate cuts to just one this year after an inflation pickup in early 2024.

The outlook will likely disappoint forecasters, who briefly hoped the Fed might order two rate cuts later this year, based on an encouraging inflation report that came out the same day.

Here is our full coverage.

When will the Fed start cutting interest rates?

Investors who bet on the movements of interest rates seem to have a consensus, following Wednesday's inflation report and interest-rate announcement.

Almost two thirds of interest-rate investors think the Fed will start easing rates following its meeting on Sept. 18, Jim Sergent reports. 

Only a day before, investors' bets on a September rate cut were very different.

How many interest-rate cuts are coming, and when? Read Jim's report.

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In his latest match, Hulk Hogan is taking on the beer industry.

Terry Bollea, better known as professional wrestling star Hulk Hogan, has launched a new premium brand named "Real American Beer."

The Hall of Fame wrestler will distribute his easy-drinking light lager across 17 states this summer with several retail partners to bring Americans together, one beer at a time. The malt is said to be meticulously brewed, with 100% North American ingredients and a 4.2% ABV.

Provenance aside, with that flavor profile and alcohol content, some connoisseurs might question whether the drink is real beer – but surely not to Hulk Hogan's face.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.

Daniel de Visé covers personal finance for USA Today.