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The Guardian - US
The Guardian - US
Business
Callum Jones in New York

Fed leaves US rates unchanged but ‘long way to go’ in inflation battle

Fed chair Jay Powell at a news conference on Wednesday.
The Fed chair, Jay Powell, at a news conference on Wednesday. Photograph: Kevin Dietsch/Getty Images

The US Federal Reserve left interest rates unchanged at a 22-year high on Wednesday as inflation continues to fade from its highest level in a generation.

Jerome Powell, its chairman, cautioned that the Fed’s campaign to bring down price growth has “a long way to go” as it left the door open to further rate hikes.

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