US Fed Pauses Rate Hikes For 1st Time In 15 Months

The US Federal Reserve voted Wednesday to pause its aggressive campaign of interest rate hikes despite "elevated" inflation, while indicating that another sharp increase could be needed before year-end. After 10 straight increases since March 2022, the Fed's rate-setting committee voted to hold its benchmark lending rate between 5.0 percent and 5.25 percent, the central bank said in a statement. Sakshi Bajaj gets us the highlights.