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Fed holds rates steady as Middle East shocks keep inflation elevated

The Fed said energy shocks tied to the Middle East are contributing to inflation remaining above its 2% target, even as policy stays unchanged.

Reported · Written up by our desk · Market Structure

The Block reports the Federal Reserve kept its policy rate in a steady range, citing ongoing inflation pressures tied to Middle East-driven energy shocks.

In its decision, the Fed said those energy shocks are helping keep inflation above its 2% target, even as it chose not to adjust rates at this meeting.

While three Fed officials pushed for a rate hike, the overall policy outcome was unchanged, and The Block notes crypto markets stayed flat around the decision.

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