Fed holds interest rates steady at 3.75-4.00 pct amid elevated inflation

The US Federal Reserve on Wednesday kept its benchmark interest rate unchanged at 3.75 to 4 percent, pausing further monetary tightening as policymakers assessed incoming economic data amid persistently elevated inflation. In a statement issued after its two-day policy meeting, the Federal Open Market Committee (FOMC) reaffirmed its commitment to achieving its dual mandate of …