US Fed leaves key interest rates unchanged after 10 consecutive hikes

The Federal Reserve said Wednesday it would pause its historic rate-hiking campaign as it waits for the effects to trickle further through the economy. Since March 2022, Fed officials have raised the central bank’s benchmark interest rate 10 times in a row — an attempt to cool the US economy and battle inflation that is still double the Fed’s target.

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First Published: Jun 14 2023 | 8:39 AM IST