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The Federal Reserve held interest rates steady despite seeing little progress in its efforts to tame inflation.

Fed Meeting Live Updates: Interest Rates Expected to Hold Steady as Inflation Pushes on Prices

Kevin Warsh, the Federal Reserve chairman, will explain why the bank paused interest rates, as investors watch for signals on the bank’s plans for increases in the months ahead.

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NOW: Fed Chair Kevin Warsh holds press conference after interest rate decision

Watch live: Fed Chairman Warsh explains why the central bank paused rate hikes

⚡ The Federal Reserve kept its key rate unchanged despite the Fed admitting “inflation remains elevated.”

Interest rates

The Federal Reserve keeps rates unchanged despite elevated inflation and gave little hint of its next moves.

Fed leaves benchmark for interest rates unchanged in final decision ahead of the midterms despite inflation concerns