Fed Keeps Interest Rate Unchanged Amid Inflation Concerns

The Federal Reserve's rate-setting committee left its key interest rate unchanged at around 3.6% on Wednesday, despite persistently high inflation and a spike in energy prices caused by the Iran war.

Three Fed officials dissented in favor of a rate increase, which was expected by Wall Street for September.

Fed Chair Kevin Warsh described the policy discussion as a 'good family fight,' but acknowledged that inflation has been above the central bank's 2% target for over five years.