Federal Reserve Leaves Interest Rates Unchanged

It was voted 9-3 to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%.

The Federal Reserve announced it will hold interest rates steady.

It was voted 9-3 to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%.

The move follows the central bank’s decision to hold rates steady in January, March, April, and June following three 25-basis-point rate cuts in September, October, and December to close out last year.

The Fed’s decision comes due to concerns about elevated inflation amid the war in Iran. Inflation remains above the Fed’s 2% goal.