US Fed holds key rate steady for fourth straight meeting

WASHINGTON: The US Federal Reserve voted Wednesday to leave interest rates unchanged for a fourth straight meeting, but said the “risks to achieving its employment and inflation goals are moving into better balance.”
The Fed has a dual mandate to keep both inflation and the unemployment rate low, and has been heavily focused on bringing high inflation back down toward its long-term target of two percent.
The US central bank confirmed in a statement that it was holding its benchmark lending rate steady at a 23-year high between 5.25 percent and 5.50 percent.

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