Federal Reserve continues to hold interest rates at 23-year high

Central bank said it was not appropriate to cut rates until it has greater confidence that inflation is moving sustainably toward 2%'

The US Federal Reserve held interest rates steady for another month as the US inflation rate continues to fade from its highest level in a generation.

Policymakers at the central bank, who have signaled they expect to cut rates three times this year, opted to keep rates steady at a 23-year high after their first two-day meeting of 2024.