It's been nearly a year since the Federal Open Market Committee (FOMC) has maintained the Federal Funds rate within the range of 5.25% to 5.5%. Throughout this period, rates have remained steady as key inflation indicators have persistently stayed high. Inflation, particularly the personal consumption expenditures (PCE) price index, which the Fed targets at 2%, has remained elevated. Fed officials have made it clear over the past few months that they are in no hurry to lower the policy rate. The FOMC is unl ...