The Federal Reserve on Wednesday opted to hold interest rates steady amid rising inflation, ending a streak of lowering rates at its previous three meetings.

After a two-day meeting of its monetary policy committee in Washington, the Fed announced it would hold its rate target at 4.25% to 4.50%. Investors anticipated the move. The Fed’s target rate remains a full percentage point lower than it was when it pivoted to cutting rates in September 2024.

Recommended Stories

Inflation ticked up to 2.3% in May in gauge watched by Fed

Fed cuts interest rates for third meeting in a row and indicates fewer reductions ahead

Warsh faces similar trap to the one that led to huge inflation in 2022