The Federal Reserve paused its interest-rate hike campaign on Wednesday for the third time this year despite signs that inflation remains unusually high.
The Federal Reserve on Wednesday held interest rates steady for the third time this year even as central bankers confront a surprisingly resilient economy and still too-high inflation. The widely expected decision left interest rates unchanged at a range of 5.25% to 5.5%, the highest level in 22 years. But policymakers also left the door open to an additional increase before the end of the year amid concerns that inflation "remains elevated.
"As for the committee, we are committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2% over time. We are not confident we have achieved that." FED SKIPS AN INTEREST RATE HIKE, BUT HIGH MORTGAGE RATES COULD BE HERE TO STAY Inflation has cooled from a peak of 9.1%, but it remains well above both the Fed's 2% goal and the pre-pandemic average.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal Reserve expected to leave interest rates unchanged despite stubborn inflationA surging economy has complicated the fight to cool price increases.
Read more »
What this week's Federal Reserve meeting could mean to your walletThe Federal Reserve will meet Wednesday to look at interest rates, which economists believe will remain the same for now.
Read more »
Federal Reserve leaves its key rate unchanged but keeps open possibility of a future hikeSince launching the most aggressive series of rate hikes in four decades in March 2022 to fight inflation, the Fed has pulled back and has now raised rates only once since May.
Read more »
Federal Reserve keeps interest rates unchanged for nowMarley Jay is a business news reporter for NBC News Digital.
Read more »
Federal Reserve to decide on interest rate hike in inflation battleJustin Boggs is a writer for the E.W. Scripps company. Justin covers anything from politics to sports and entertainment.
Read more »
What this week's Federal Reserve meeting could mean to your walletThe Federal Reserve will meet Wednesday to look at interest rates, which economists believe will remain the same for now.
Read more »