Economy still growing, inflation elevated, and uncertainty is high. The Fed holds interest rates steady for third straight meeting.

The Federal Reserve statement says the economy is still growing at a solid pace, but inflation remains elevated and uncertainty is high due to global events. The Fed kept interest rates unchanged (3.5%–3.75%) and is taking a wait-and-see approach, watching incoming data before making any moves. It reaffirmed its commitment to 2% inflation and maximum employment. There was some internal disagreement: one member wanted a rate cut, while a few others opposed signaling any future easing.