Federal Reserve leaves interest rate unchanged

The Federal Reserve kept the interest rate steady at 5.25%-5.50%, the highest in the last 22 years.

Simultaneously, the Fed revealed intentions to reduce the interest rate by 0.75 percentage points in the upcoming year.

The central bank foresees a drop in inflation to 2.4% in 2024, adjusted from the September forecast of 2.5%, and a further decrease to 2.2% by 2025.