Fed Keeps Interest Rates Unchanged but Signals Additional Hikes in Future
For the first time in over a year, the Federal Reserve left its target range for the federal funds rate unchanged at 5 to 5.25% following the conclusion of its two-day policy meeting.
Prior to today's decision, the Federal Open Market Committee (FOMC) had hiked interest rates ten straight times in an effort to tame stubbornly high inflation.
The latest decision was widely anticipated after the latest inflation reading, which indicated that inflation continues to slow from its June 2022 peak of 9.1%. In May, annual inflation eased...
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