Fed holds rates steady, cites uncertainty from Middle East conflict

U.S. Federal Reserve Chair Jerome Powell holds a press conference at the Fed in Washington, D.C., on Dec. 10, 2025. Reuters-YonhapWASHINGTON — The U.S. Federal Reserve on Wednesday held its benchmark interest rate steady for the third consecutive time, citing "elevated" inflation amid a recent rise in oil prices and warning that the Middle East conflict is contributing to a "high level" of economic uncertainty.The central bank decided to leave the rate unchanged at the 3.5-3.75 percent range during the two-day Federal Open Market Committee (FOMC) meeting, which might be the last rate-setting gathering under Fed Chair Jerome Powell, whose chairmanship is set to expire on May 15.The pause put the gap between the key rates of South Korea and the United States at up to 1.25 percentage…

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