The Federal Reserve is keeping a key interest rate unchanged - again - until inflation further cools.
The Fed's announcement was made on May 1st.
The Fed issued its decision in a statement after its latest meeting, at which it kept its key rate at a two-decade high of 5.3%.
In the past several weeks, government data has shown that inflation remains stubbornly above the Fed's 2% target.
Year-over-year inflation rose to 3.5% in March, from 3.2% in February. And a closely watched gauge of “core” prices, which exclude volatile food and energy, rose sharply for a third straight month.
(The Associated Press contributed to this report.)
Federal Open Market Committee statement: https://t.co/SN4CcmkxxS #FOMC
— Federal Reserve (@federalreserve) May 1, 2024
