The Federal Reserve Board has decided to stand pat on interest rates, so where does that leave us?
U.S. inflation was at 2.7 percent in the government's June report, and that's not low enough for most members of the Fed to vote for an interest rate cut.
UNO professor Mark Rosa says that is in the range, though, that would justify a rate decrease. He said if the fed votes to go down that road at their next meeting, it won't be the only one.
"Once they get into finally seeing their way clear to reduce the cost of money, that a few of them would follow," said Rosa, pointing out that the fed took similar action about a year ago, with consecutive rate cuts adding up to one percentage point.
Uncertainty over tariffs -- taxes on imports -- and how they will affect prices has the central bank remaining cautious. Rosa said some businesses so far have held off on passing those costs on to consumers, but that has a flip side.
"We'll pay the same price for goods and services, what the Fed would like, but then the stock market might take a hit, if that's the other side of that equation, if they're absorbing (losses from paying higher tariffs)," he said.
But holding rates steady, said Rosa, is still doing damage.
"It's done tremendous damage to the housing market, as just a year ago, a year-and-a-half ago, you could get a five percent 30-year mortgage and it went back up to seven," he said.
The fed hasn't signaled if they'll cut rates in their next meeting, meaning uncertainty remains the status quo.