The Federal Reserve voted to keep interest rates at a 23-year high on Wednesday, as the central bank tries to curb stubborn inflation. Investors now think it could be September at the earliest before borrowing costs start to come down.
"Inflation has eased over the past year but remains elevated," the Fed's rate-setting committee said in a statement. "In recent months, there has been a lack of further progress toward the Committee's 2% inflation objective."
