Sorry, America, it’s looking like higher interest rates are going to stick around longer [Video]

It doesn’t look like the Federal Reserve will cut interest rates any time soon.

On Wednesday, the Federal Open Market Committee will announce whether it will continue to hold interest rates steady or cut them — and it’s looking like it will choose the former. The CME FedWatch Tool, which estimates the market’s view on the likelihood of interest-rate adjustments, predicted as of Monday morning there’s a 97.1% chance rates would remain unchanged.

It all comes down to the data. Julia Pollak, the chief economist at ZipRecruiter, told Business Insider that the March jobs report was “the Fed’s holy grail: strong job market with non-inflationary growth.”

In the report, released earlier this month, average hourly earnings rose by 4.1% year over year in March — a slower rate than in the last few years — the unemployment rate wasn’t too high, and there was strong job growthwith 303,000 jobs added. In addition to the growth seen in January and February, these monthly …