URGENT: U.S. Fed keeps key interest rate at 22-year high of 5.25-5.50%
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The U.S. Federal Reserve on Wednesday kept its benchmark interest rate steady at a 22-year high of 5.25-5.50 percent, extending a pause since the last hike in late July.
The Fed’s decision to maintain the target range for the federal funds rate, which commercial banks charge each other for overnight loans, was announced after a two-day policy meeting.
