Fed holds interest rates steady even as inflation remains stubborn

The Federal Reserve opted to leave its benchmark interest rate unchanged — but investors widely expect the central bank to raise rates at its next meeting in December to combat stubborn inflation.

<img src='https://npr.brightspotcdn.com/dims3/default/strip/false/crop/8087x5392+0+0/resize/8087x5392!/quality/85/format/webp/?url=http%3A%2F%2Fnpr-brightspot.s3.amazonaws.com%2Fc3%2Feb%2F1c48feef483e9b705d5e63e76f89%2Fgettyimages-2295625605.jpg' alt='Federal Reserve Chairman Kevin Warsh and his colleagues voted to hold their benchmark interest rate steady Wednesday. The central bank had raised rates in September, in an effort to curb persistent inflation.'/><p>The Federal Reserve opted to leave its benchmark interest rate unchanged — but investors widely expect the central bank to raise rates at its next meeting in December to combat stubborn inflation. </p><p>(Image credit: Andrew Harnik)</p><img src='https://media.npr.org/include/images/tracking/npr-rss-pixel.png?story=nx-s1-6020425' />