Welcome to the Jill on Money Show, it is Friday, June 16th.

And in case you missed it, the Federal Reserve did something that it has not done in more

than a year.

It actually did not raise interest rates.

Yep, after 10 consecutive rate hikes over the past 15 months, the central bank decided

to hit the pause button.

They just want to see how higher interest rates are filtering through the economy.

So I thought it might be helpful, just do a quick hit on this.

I did a segment on CBS Morning's yesterday morning to explain some of the implications

of this and on the other side of playing this segment, I think that it might make sense

for me to really hit you guys with the ideas around what the Fed is going to do, what

actions you might take in preparation for that and maybe what actions you should not

take as we think about the Fed trying to do something in the future.

So here is my segment with CBS Morning's Nate Burleson is the anchor he brings us in.

We're getting one more sign that efforts to control inflation are working.

For the first time in more than a year, the Federal Reserve met and decided not to raise

interest rates yesterday, although the Fed chairman made it clear that future rate hikes

are still likely.

So let's bring in CBS News Business Analyst, Jill Slesinger, aka Dollar Dollar Jill, y'all.

So let's get right into it.

Why did the Federal Reserve pause raising interest rates?

We just got a CPI Consumer Price Index report out and it did show a lot of progress on inflation.

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