The Federal Reserve on Wednesday announced that it will leave its benchmark interest rate unchanged, as policymakers decided to hold rates steady amid elevated economic uncertainty as they continue to monitor inflationary pressures and labor market data.
The central bank’s decision leaves the benchmark federal funds rate at a range of 4.25% to 4.5%, where it has remained following all five of the Fed’s policy meetings this year. The central bank cut rates at its final three meetings in 2024, including a 50-basis-point cut in September and a pair of 25-basis-point reductions in November and December.
This is a developing story. Please check back for updates.
