Fed holds interest rates at a 23-year high
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The US Federal Reserve has decided to keep interest rates at a 23-year high of 5.25%-5.5%. The decision comes amid uncertainty about the future path of borrowing costs. The Fed has not raised interest rates since July, and while supporters of rate cuts argue that inflation has slowed, the central bank has warned that it will not reduce rates until it is confident that inflation is moving towards the 2% target. The decision is being closely watched as other central banks around the world face similar decisions. The US economy has remained resilient, with growth at a 3.3% annual rate and an unemployment rate of 3.7% in December. However, analysts believe the Fed will not want to leave the weight of higher rates on the economy indefinitely.
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