Fed keeps rates at 4.25%-4.50%, says cuts depend on clearer inflation progress
The Federal Reserve left its benchmark interest rate unchanged at 4.25%-4.50% after its latest Federal Open Market Committee meeting, signaling that borrowing costs are likely to stay elevated until inflation shows more sustained progress toward the central bank’s 2% target. In its statement, the Fed pointed to persistent price pressures and said it needs additional evidence that inflation is easing before…