High interest rates persist

Welcome to The Money, where we break down financial news and provide the TL;DR version of how decisions by the Federal Reserve, government and companies impact you.

Americans will keep paying higher borrowing costs for now as the Fed battles to slow sharp price increases.

The Federal Reserve left its key interest rate unchanged again Wednesday and stuck to its forecast of three rate cuts this year despite signs that inflation may stay elevated longer.?

Fed officials also bumped up their estimates of economic growth and inflation in 2024.

Inflation persists, too

Frying up eggs and bacon at home might seem like a frugal move, but as the battle against inflation continues, it will still cost you .

Grocery bills still have people making hard budget choices . Here is how much breakfast items cost on average in February of this year compared to the recent peak and five years ago, according to the Bureau of Labor of Statistics.

(Hint: everything is more expensive than five years ago.)

Mega Millions lottery nears $1 billion, again

If no one wins the next Mega Millions drawing on Friday, the jackpot could soon eclipse the $1 billion mark and climb the record books as one of the largest jackpots in the game's history.

The jackpot sits at an estimated $977 million after no one won Tuesday's drawing , still the sixth-largest prize in the game's history. The cash option is $461 million, according to the lottery.

Some say, in part, we can thank the Fed for soaring jackpots .

If you win, here's what to do so you don't get swindled.

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A chilly spring's expected for the housing market as rates stay high.

Gimme a break! Employers and workers clash on PTO .

Apple's alleged smartphone monopoly catches DOJ eye .

What happens if you can't make bond? A lesson from former President Trump .

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