US Federal Reserve keeps interest rates at 23-year high

Washington - The U.S. Federal Reserve held interest rates steady for a sixth straight meeting on Wednesday, keeping the level at a 23-year high to fight stubborn price increases.

At the end of a two-day meeting, central bank policymakers decided unanimously that the Fed would keep the benchmark lending rate unchanged at 5.25-5.50 percent, citing a 'lack of further progress' toward its 2 percent inflation target.<