Business News - 1540 WADK Newport
Chip Somodevilla/Getty Images(WASHINGTON) -- The Federal Reserve decided to hold its benchmark interest rate steady on Wednesday, postponing highly anticipated rate cuts as elevated inflation continues to burden U.S. households.The announcement arrives days after new government data showed that the economy is cooling off.The slowdown has coincided with a months-long stretch of stubborn inflation, putting pressure on the Fed to keep interest rates high despite a risk of hindering economic activity with expensive borrowing costs."The economic outlook is uncertain, and the Committee remains ...