US central bank call comes as inflation persists at an elevated rate The US Federal Reserve elected to hold interest rates steady today at the end of its Federal Open Markets Committee (FOMC) meeting. The decision follows a 25 basis point hike after the FOMC's September meeting and leaves the Fed's overnight rate in a range between 3.75 and 4 per cent. Following that decisions Fed Chair Kevin Warsh emphasized the central bank's committment to price controls and bringing inflation down towards its two per cent target. US CPI in September was reported at an annualized rate of 3.7 per cent. "Inflation remains elevated.
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