US Federal Reserve holds interest rates steady

Policymakers at the US Federal Reserve have decided to hold interest rates steady. They are apparently trying to assess inflation after raising the rates at their previous meeting.

Policymakers wrapped up their two-day meeting on Wednesday under Chair Kevin Warsh. They decided to keep the benchmark interest rates between 3.75 and 4 percent. The rate hike last month was the first in three years, and energy prices remain high due to the situation in the Middle East.

Two members of the committee voted against the decision. They were in favor of a hike of a quarter percentage point. Market expectations are growing that policymakers will raise rates at their next meeting in December.