LIVE: Fed holds rates at 4% even as inflation accelerates and borrowing costs remain painfully high

The Federal Reserve held interest rates at 3.75%–4%, with policymakers voting 10-2 to keep borrowing costs unchanged. Lisa Cook and Beth Hammack opposed the decision, calling for a 25-basis-point hike as inflation remains elevated. US stocks climbed, with the S&P 500 up 0.2%, the Nasdaq gaining 0.1%, and the Dow adding 122 points. Chip stocks rallied after SK Hynix reported record profits, while investors awaited major tech earnings and Kevin Warsh’s remarks.

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