US Federal Reserve holds interest rates steady for fifth consecutive time at 3.5%-3.75%

The Federal Reserve (the US central bank) kept its main overnight interest rate unchanged today (Wednesday) within a range of 3.50% to 3.75%, marking its second monetary policy meeting under Chair Jerome Powell. The decision to hold rates steady aligned with market expectations, marking the fifth consecutive time that the dollar interest rate has remained at its lowest level in three years.