It sounds like good news that interest rates remain unchanged – in the 5.25%-5.50% range – but the Fed is hoping to maintain progress by keeping rates at a 22-year high to curb the nation's sharpest inflation spike in 4 decades.
Federal Reserve Chair Jerome Powell said the committee decided to leave rates unchanged following 10 straight hikes while indicating that at least two more increases might be necessary in 2023 - and possibly as soon as July.