On Wednesday, the Federal Reserve decided to leave interest rates unchanged and observe the impact of its monetary policy, CNBC reports.
It leaves the Fed’s key borrowing rate unchanged at 5%-5.25% for the next six weeks until their next meeting on July 25-26.
However, the FOMC expects a median rate of 5.6% by the end of 2023, which implies two more quarter-point hikes are coming.
