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Fed Keeps Rates Steady Despite High Inflation | Los Angeles News
The Federal Reserve has decided to maintain interest rates between 3.75% and 4%, following a recent hike. Despite strong economic activity, inflation remains high, complicating the Fed's efforts to drive it down to 2%. There are internal divisions within the Federal Open Market Committee, with some members advocating for a rate increase. With a press conference from Fed Chairman Kevin Warsh scheduled, the implications for consumers include potentially higher borrowing costs as the holiday
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