Fed holds interest rates steady even as inflation remains high
The U.S. central bank left borrowing costs unchanged this month after hiking rates in September for the first time in three years.
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The U.S. central bank left borrowing costs unchanged this month after hiking rates in September for the first time in three years.
The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
