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Topline
The Federal Reserve decided to keep interest rates the same for just the second time since beginning its current hiking cycle aimed at curbing inflation last year, but projected that rates will remain higher over the next two years than previously expected, providing some unwelcome news for investors hoping for rates to come down sooner rather than later.
Key Facts
The Fed will hold rates steady at the 22-year high of 5.25% to 5.5% as widely expected, the central bank announced Wednesday afternoon following the conclusion of the two-day meeting of its policy-setting Federal Open Markets Committee.
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