Federal Reserve keeps benchmark interest unchanged

Global Business

The U.S. central bank has again left its benchmark interest rate unchanged amid growing concerns about the return of inflation.

Just weeks ago, the Federal Reserve was talking about cutting the rate from up to 5.5 percent that it hiked to drive down inflation.

But on the flipside of that was elevated borrowing costs that have hit those with mortgages hard. But some are now wondering if persistent inflation will rule out any rate cuts this year.

CGTN’s Owen Fairclough reports.