WASHINGTON (WAM)
The US Federal Reserve held interest rates steady on Wednesday in a range of 5.25% to 5.5%.
The Fed's latest policy statement, issued at the end of a two-day meeting, kept key elements of its economic assessment and policy guidance intact, noting that "inflation has eased" over the past year, and framing its discussion of interest rates around the conditions under which borrowing costs can be lowered.
U.S. stocks pared losses following the release of the policy statement while the U.S. dollar (DXY), opens new tab fell against a basket of currencies. U.S. Treasury yields fell, according to Reuters.