US Federal Reserve Holds Interest Rates Steady for Fifth Consecutive Meeting
The US Federal Reserve kept its benchmark federal funds rate unchanged at 3.5% to 3.75% in a 9-3 vote, extending its run of policy pauses as inflation remains above target. Federal Reserve officials said supply disruptions and higher energy prices linked to the conflict in the Middle East continue to add pressure to inflation, while three policymakers favored a quarter-point rate increase.