WASHINGTON—The Federal Reserve acknowledged a recent setback in its inflation fight but said it was more likely to keep interest rates at their current level for longer than to raise them again.Officials held their benchmark federal-funds rate steady Wednesday at a range between 5.25% and 5.5%, the highest in two decades and a level it reached last July, following a run of economic data that revealed simmering price pressures in the economy.
Source: Fed Says Inflation Progress Has Stalled and Extends Wait-and-See Rate Stance – WSJ
