WASHINGTON, July 31 (Xinhua) -- The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent, as inflation continues to be cooling, hinting that a rate cut might come as soon as September.
"Inflation has eased over the past year but remains somewhat elevated. In recent months, there has been some further progress toward the Committee's 2 percent inflation objective," the Federal Open Market Committee (FOMC), the Fed's policy-setting body, said in a statement after a two-day policy meeting.
