The US Federal Reserve has kept its benchmark interest rate unchanged at 3.75%–4%, opting to wait for more economic data despite persistent inflationary pressures.

Axar.az reports, citing CNBC, that the Federal Open Market Committee made the decision on Wednesday, with two of its 12 voting members dissenting and calling for a quarter-percentage-point rate hike.

In its post-meeting statement, the Fed said inflation “remains elevated” and that more information would help determine the appropriate monetary policy to bring inflation back to its 2% target.

"The accumulation of more information will help the Committee determine the policy stance appropriate to ensure a timely return of inflation to the Committee’s 2 percent goal. The Committee will deliver price stability," the statement said.

The committee also described economic activity as expanding at a strong pace, while policymakers continue to assess inflation and broader economic conditions before deciding on further action.

Fed Chair Kevin Warsh said one meeting in 2027 would focus exclusively on monetary policy strategy, without a vote on interest rates or a policy statement.