Federal Reserve holds interest rates steady in face of persistent inflation
Summary
The Federal Reserve kept its benchmark interest rate unchanged at 3.75% to 4% amid persistent inflation. The Federal Open Market Committee voted 10-2, with Lisa Cook and Beth Hammack dissenting.Key Facts
- The Federal Reserve held interest rates steady on Wednesday.
- The federal funds rate target range remains 3.75% to 4%.
- The Federal Open Market Committee made the decision.
- The committee voted 10-2 to keep rates unchanged.
- Lisa Cook dissented.
- Beth Hammack, president of the Federal Reserve Bank of Cleveland, dissented.
- The article describes inflation as persistent.
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