Federal Reserve keeps rates at 4.75%-5.00%, signals cuts unlikely until inflation cools
The U.S. Federal Reserve left its benchmark interest rate unchanged at 4.75% to 5.00% in its latest policy decision, underscoring its determination to keep borrowing costs elevated until inflation shows clearer signs of easing. Policymakers said price pressures remain above the central bank’s 2% target, leaving little room for an immediate shift toward lower rates. Chair Jerome Powell said the Fed needs to see…