Global shares rose as investors digested earnings from Microsoft and Meta in the wake of this week's rout in technology stocks, while the dollar was steady against most other currencies after the Federal Reserve left rates unchanged.

It's important to understand that the Fed's decision to pause rate cuts will not directly impact mortgage rates. Mortgage rates are actually driven by a range of factors, including the Fed's rate changes. This week's Fed rate decision does, however, have a big influence on where mortgage rates could head.

The Federal Reserve left interest rates unchanged on January 29, and an interest rate cut is unlikely when the Fed issues its next policy decision on March 19, 2025.

The central bank’s decision to pause at its first meeting of 2025 followed a series of cuts that began in September to account for progress already made on getting inflation down. Over the course of three meetings, the Fed lowered rates by a full percentage point to a range of 4.25 percent to 4.5 percent, which was maintained on Wednesday.

Brian Jacobsen, chief economist at Annex Wealth, joined TheStreet to discuss what higher for longer rates means for the economy in 2025. Related: Major housing analyst unveils mortgage forecast ahead of Fed meeting CONWAY GITTENS: So,

The Fed has a dual mandate. In addition to stable prices, the central bank is supposed to support maximum employment. With the labor market in "solid" shape, the FOMC has become m

Here's a quick primer on interest rates and what today's Fed decision could mean for your money. Read more: Trump Can't Lower Interest Rates. But What Power Does the President Hav