The Federal Reserve opted to keep its benchmark interest rate unchanged for the fifth consecutive meeting on Wednesday

The Federal Reserve held rates at 3.5%-3.75% for a fifth straight meeting, but 4.1% inflation and 80% market odds of a September hike loom over

Persistent inflation concerns are expected to push the central bank toward an interest rate hike.

The US economy expanded at a slower 1.5% pace in the second quarter. Strong consumer spending and AI infrastructure investment supported overall economic activity. Imports surged,…