Business

The Federal Reserve kept its main interest rate on hold at a range of 5.25% to 5.5%. It was the fourth consecutive time the central bank has held rates. With inflation on the wane, investors are impatient for a rate cut; the Fed offered little information about when it expects to do that. It did issue a more neutral outlook by saying that it was “moving into better balance” on jobs and inflation, but it all but ruled out a rate cut in March. Stockmarkets swooned.