The Federal Reserve kept interest rates unchanged, but a rare 9-3 split vote and persistent inflation concerns strengthened expectations of future rate hikes.

The Federal Reserve is expected to keep its overnight rate unchanged at the conclusion of its July meeting.

The US Federal Reserve left interest rates unchanged on Wednesday in a range of 3.5% to 3.75%, the fifth consecutive meeting without a move, in a decision that exposed an unusual…

Investors had largely expected that the Fed would hold interest rates steady, given ongoing concerns with high inflation.