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Fed Holds Steady on Interest Rate Despite Inflation Concerns

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The Federal Reserve left its key interest rate unchanged at around 3.6% on Wednesday, marking the fifth straight meeting to keep the benchmark rate steady.

This decision came after two days of deliberations by the Fed's rate-setting committee, which wrestled with how to deal with persistently high inflation.

The move was not unanimous, however, as three officials dissented in favor of higher rates.

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