Fed Frustration Mounts Despite Interest Rate Decision

Federal Reserve policymakers are growing frustrated with inflation, but they may not take immediate action to address it.

The central bank's rate-setting committee is expected to keep its benchmark interest rate unchanged when they meet this week in Washington on Tuesday and Wednesday.

This decision comes despite the fact that members of the committee are losing patience with inflation. However, they may not be ready to turn their frustration into action, not this week anyway.

The Fed is expected to keep rates unchanged for now, but may revisit the issue at its next meeting in September when they gather again on Sept. 15-16.