But the bank also said rates could increase in the near future if inflation does not go down

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…

The central bank appeared divided over future interest rate moves.

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

Three Fed bank presidents wanted to hike interest rates