US Federal Reserve leaves key interest rate unchanged

The Federal Reserve has decided to keep its primary interest rate unchanged at 5.25%-5.5% in an effort to achieve a "gentle landing" for the US economy. The central bank aims to cool down inflation without causing a severe recession. The Federal Reserve has been implementing a series of interest rate hikes since March 2022 to slow down the economy and rein in inflation. While progress has been made, certain service costs are still increasing at a higher rate than before the pandemic.

source https://timesofindia.indiatimes.com/business/international-business/us-federal-reserve-leaves-key-interest-rate-unchanged-sees-another-hike-in-2023-to-bring-down-inflation/articleshow/103817537.cms