Concerns that the Federal Reserve needs to raise interest rates to curb inflation have not subsided.
As expected, the Federal Reserve kept interest rates unchanged, marking the fifth consecutive time it has maintained the federal funds rate at its current level. The post-meeting statement, similar to that in June, reiterated that inflation remains above the Committee’s 2% target, partly due to supply shocks leading to price increases in certain sectors, including energy, and reaffirmed its commitment to price stability. While keeping rates unchanged, three officials voted against raising rates, all three voting for a quarter-point increase.… … »Concerns that the Federal Reserve needs to raise interest rates to curb inflation have not subsided.