US Federal Reserve Maintains Interest Rates Unchanged at 3.75% to 4%

The US Federal Reserve kept interest rates unchanged in the 3.75% to 4% range following an FOMC meeting on Wednesday, despite stubbornly high inflation.

The rate decision was approved by a 10-2 vote, with Lisa D. Cook and Beth M. Hammack dissenting from the majority decision.

Fed Chair Kevin Warsh stated during a press conference that politics played no role in the decision and emphasized the central bank's commitment to achieving its 2% inflation goal.