Fed pledges cautious path forward with interest rate decision

The Federal Reserve left interest rates unchanged Wednesday while leaving the door open to a future increase, a cautious stance at a time when rapid inflation is retreating but is not yet vanquished. Rates have been on hold in a range of 5.25% to 5.5% since July, up from near zero as recently as March 2022. “The full effects of our tightening have yet to be felt,” Jerome…