The Federal Reserve on Wednesday left its benchmark interest rate unchanged, maintaining a target range of 3.5% to 3.75% for a fifth consecutive meeting.

Heading into the meeting, most monetary policy watchers had expected the Fed to stand pat after inflation cooled in June. Still, a minority (about 30%) had penciled in a hike, a mix described as unusual.

The central bank made its decision amid cooling inflation numbers and a still-resilient job market. The Consumer Price Index (CPI) for June fell 0.4% on a seasonally adjusted basis, following a 0.5% rise in May, driven mainly by a 9.7% drop details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com