Fed Holds Rates Steady, Says Risks of Higher Unemployment, Higher Inflation Have Risen
As was widely expected, the U.S. Federal Reserve held its benchmark fed funds rate range steady on Wednesday at 4.25%-4.50%, extending its pause on monetary easing for the third consecutive meeting. “Uncertainty about the economic outlook has increased further,” said the Fed in its accompanying statement. “The Committee is attentive to the risks to both…