Federal Reserve Holds Rates, Trump Proposes Dulles Overhaul, Japan Earthquake Toll Rises

Why it matters locally: The Federal Reserve's decision to hold interest rates steady will continue to influence borrowing costs for Michigan businesses and consumers, potentially affecting local economic activity and investment.

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WASHINGTON – The Federal Reserve maintained its current interest rates, according to an announcement Wednesday. Three Federal Reserve officials, however, voted to increase rates. Concerns regarding ongoing inflation and rising energy prices contributed to these differing opinions. Separately, President Trump unveiled a $22 billion proposal for the renovation of Washington Dulles International Airport. The proposal outlines a significant overhaul for the regional transportation hub. In international news, officials in Japan reported that the death toll from a recent earthquake has climbed to 18.