US Federal Reserve Holds Interest Rates Steady for Fifth Consecutive Time, at 3.50%-3.75%

The Federal Reserve (the U.S. central bank) decided today, Wednesday, to keep interest rates unchanged for the fifth consecutive time, within the range of 3.50% to 3.75%. The U.S. Federal Reserve stated that inflation remains relatively high compared to its 2% target, reflecting in part supply shocks in certain sectors, including the energy sector.