Federal Reserve Holds Interest Rates Steady

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The Federal Reserve just released its interest rate decision this afternoon. Now, the US Central Bank has decided to leave rates unchanged at least for now. But it did signal that it will need to increase rates one more time before the end of the year. Now, if the fed does decide to raise rates one last time in 2023 it will be the 12th interest rate hike since March of 2022. In a statement, the fed said this inflation remains elevated. Now, fed policymakers are also projecting that higher rates will continue through next year.