Fed holds rates at 4.25%-4.50%, says cuts unlikely until inflation eases
The Federal Reserve left its benchmark interest rate unchanged at 4.25% to 4.50% after its latest Federal Open Market Committee meeting, signaling that borrowing costs are likely to stay elevated until inflation shows more convincing signs of cooling. In its statement, the central bank said inflation remains above its 2% target and that policymakers need to see sustained progress before considering rate cuts. Chair…