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00:02The Federal Reserve left interest rates unchanged for a fifth straight meeting,
00:06keeping its benchmark rate in a range of 3.50% to 3.75%, according to Reuters.
00:13Chair Kevin Warsh reaffirmed the central bank's commitment to bringing inflation back to its 2%
00:18target, declaring that the Fed will not waiver. Warsh said the Fed would not hesitate to act if
00:24needed, but declined to signal whether a rate hike was imminent, saying higher interest rates could
00:29be part of the solution if inflation remains elevated. The decision drew dissents from three
00:34Federal Open Market Committee members, who favored a quarter-point rate increase.
00:38Markets lowered the probability of a September rate hike from nearly 100% before the Fed meeting
00:43to about 57% after the policy statement. For all things money, visit Benzinga.com.
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