The Fed has been raising rates for over a year in its fight against inflation. At the conclusion of the May meeting, the Fed raised rates for the tenth consecutive time. The base rate now sits over 5%, the highest since 2007. This meeting also came with a notable change in the language surrounding the topic. The Fed softened their tone in this round of meetings suggesting a potential pause for any additional rate increases. Our partners at LPL dive deeper in their post “Fed Sets Up for a Pause”.