The Fed Holds Interest Rates Steady

The Fed cautions that inflation remains high and it is prepared to adjust its monetary policy ‘as appropriate if risks emerge.’

federal reserve building
(Image credit: Getty Images)

Federal Reserve officials held the benchmark interest rate steady at the current 5.25% to 5.5% target range today as they seek to ease inflation and avoid a recession.

At the Sept. 20 conclusion of its two-day policy meeting, the Federal Open Market Committee (FOMC) announced that, while it will maintain the federal funds rate, inflation remains elevated.

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Esther D’Amico
Senior News Editor

Esther D’Amico is Kiplinger’s senior news editor. A long-time antitrust and congressional affairs journalist, Esther has covered a range of beats including infrastructure, climate change and the industrial chemicals sector. She previously served as chief correspondent for a financial news service where she chronicled debates in and out of Congress, the Department of Justice, the Federal Trade Commission and the Commerce Department with a particular focus on large mergers and acquisitions. She holds a bachelor’s degree in journalism and in English.