Fed Keeps Rates Unchanged Amid Frustration Over High Inflation

Federal Reserve policymakers are showing signs of frustration over high inflation, but it seems they won't be taking action just yet. Meeting in Washington on Tuesday and Wednesday, the Fed is expected to keep its benchmark interest rate unchanged.

Inflation has been above the 2% target for more than five years, a situation that new Fed Chair Kevin Warsh called having 'no tolerance' for when he addressed Congress earlier this month.

The Fed's rate-setting committee may be hesitant to act now, but members may have a change of heart when they gather again next September 15-16. For now, investors can expect the benchmark interest rate to remain steady, at least until the next meeting.