Federal Reserve leaves key interest rate unchanged but keeps open possibility of a future hike

The Federal Reserve kept its key short-term interest rate unchanged for a second straight time but left the door open to further rate hikes if inflation pressures should accelerate in the months ahead. Federal Reserve Chairman Jerome Powell said after its latest meeting that it would keep its benchmark rate at about 5.4%, its highest level in 22 years. Since launching the most aggressive series of rate hikes in four decades in March 2022 to fight inflation, the Fed has pulled back and has now raised rates only once since May. Subscribe: https://www.youtube.com/@AssociatedPress Read more: https://apnews.com Licensing inquiries: https://newsroom.ap.org/home #news