US Fed Freezes Interest Rates at 3.50-3.75% for Fifth Consecutive Time

The US Federal Reserve (Fed) has frozen interest rates at 3.50-3.75% for the fifth consecutive time, marking a decision of 9-3 among FOMC members.

This decision follows the regular Federal Open Market Committee meeting and is the second rate freeze since new Fed Chair Kevin Warsh took office.

The Fed stated that economic activity is expanding at a solid pace despite heightened uncertainty caused by conflicts in the Middle East and other factors.