The Federal Reserve (Fed) maintained the federal funds rate in the 5% to 5.25% range on Wednesday, following 10 consecutive hikes that brought rates to a level never seen since 2007. 

The Federal Open Markets Committee (FOMC) has decided to pause its rate hikes in June after data that pointed to cooling inflation and the need to assess how much banks have slowed down their lending due to the recent tumult in the sector.

Policymakers also want to evaluate the impact of their actions on the economy so far. The details ⇒

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