Fed Keeps Interest Rate Unchanged as Inflation Remains a Priority

The US Federal Reserve has left its benchmark interest rate unchanged at 3.50%-3.75% in its latest decision.

This move comes as the Fed reaffirms its commitment to reducing inflation, which has exceeded its 2% target for over five years.

Kevin Warsh, head of the US central bank, emphasized that the Fed will not abandon its mission and will continue to focus on bringing inflation back to target levels.

'We are doing our job, and we are fully focused on our goal of ensuring that inflation returns to the target level. But I must dispel the expectation that this problem can be solved with the help of a magic wand,' Warsh said.