Fed keeps rates at 5.25% for 12th month

The Federal Reserve held interest rates steady 28 June, citing "modest" improvements in recent inflation readings. Fed rates have now remained at 5.25% for 12 months.

However, the Fed added that a "sustained moderation in inflation pressures has yet to be convincingly demonstrated."

Core inflation, which strips out volatile food prices, rose 2% over the 12 months ending in April. Economists are suggesting that rates could remain on hold for the remainder of the year.

The Fed reiterated to its vi

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