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Federal Reserve Board Chairman Jerome Powell speaks during a news conference following the Federal Open Market Committee meeting at the Federal Reserve in Washington on June 14, 2023. Mandel Ngan/AFP via Getty Images
For the first time in more than a year, the Federal Reserve has left interest rates unchanged but signaled that two more rate hikes are set to happen this year.
The benchmark federal funds rate held steady at a range of 5–5.25 percent, effectively ending the streak of 10 consecutive rate hikes.
