Fed Holds Rates at 23-Year High as Inflation Worries Persist

The Federal Reserve made no changes in its interest rate policy Wednesday, holding its benchmark rate at a 23-year high amid signs of stubborn inflation in the U.S. economy. Officials on the Federal Open Market Committee said in a statement that while the economy continues to expand at a solid pace, "there has been a lack of further progress" in recent months toward reaching the Fed’s target of 2% inflation. Speaking to reporters, Fed Chair Jerome Powell said that recent inflation data has "come

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