▲ This file photo, taken March 13, 2015, shows the Federal Reserve's headquarters in Washington, D.C. (Yonhap)

FOMC-benchmark rate

U.S. Fed keeps key lending rate unchanged for 4th straight time

By Song Sang-ho

WASHINGTON, Jan. 31 (Yonhap) -- The U.S. Federal Reserve held its benchmark lending rate steady for a fourth consecutive time during a monetary policy meeting on Wednesday, amid expectations that it would start lowering rates later this year.

After the two-day Federal Open Market Committee (FOMC) meeting, the central bank announced its decision to keep the rate between 5.25 and 5.50 percent.

After the previous rate-setting meeting last month, Fed Chairman Jerome Powell said the policy rate was likely at or near its peak for the tightening cycle -- remarks that indicated the Fed would pivot away from its rate hiking campaign launched in March 2022 to cool inflation.

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