Fed holds rates steady as US inflation stays elevated (opens original article in a new tab)

The U.S. Federal Reserve maintained its benchmark interest rate at 3.5%-3.75% as inflation remains above target, with nine of 19 policymakers now expecting rate hikes this year.

• The U.S. Federal Reserve kept its benchmark interest rate at 3.5%-3.75%.
• Nine of 19 policymakers now believe the Fed will need to raise rates this year due to persistent inflation.
• Inflation projections for 2025 have increased to 3.6% for PCE and 3.3% for core PCE.