US Fed Freezes Rates Amid Growing Hike Odds

The US Federal Reserve kept its benchmark interest rate at 3.6% for the fifth consecutive time, but the decision was not unanimous.

While nine out of 12 officials voted to freeze rates, three argued in favor of a hike to combat inflation.

Chair Kevin Warsh reaffirmed his commitment to achieving a 2% inflation target and emphasized that the Fed's position is firm.

The possibility of a rate hike has market experts predicting that the Fed will ultimately raise interest rates in September, with more than 70% expecting this outcome.