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Federal Reserve leaves interest rates unchanged

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The U.S. Federal Reserve expects to cut rates once this year after leaving rates unchanged for a second straight time Wednesday. Speaking to reporters, Fed Chair Jerome Powell stressed that it's hard to know the long-term impact of the Iran war on the economy — though, in the near term, inflation is likely to remain elevated. Wednesday's meeting is expected to be his second to last as Fed chair. Powell also said he has "no intention of leaving" until a Justice Department probe related to the renovation of the Fed's headquarters is over. Watch PBS News for daily, breaking and live news, plus special coverage. We are home to PBS News Hour, ranked the most credible and objective TV news show. Sign up for Here's The Deal with Lisa Desjardins: https://to.pbs.org/41q6E8i Subscribe for exclusive content in our newsletters: https://www.pbs.org/newshour/subscribe PBS News podcasts: https://www.pbs.org/newshour/podcasts Stream your PBS favorites with the PBS app: https://to.pbs.org/2Jb8twG Find more from PBS News at https://www.pbs.org/newshour Subscribe to our YouTube channel: https://bit.ly/2HfsCD6 Follow us: TikTok: https://www.tiktok.com/@pbsnews X: http://www.twitter.com/newshour Instagram: http://www.instagram.com/newshour Facebook: http://www.pbs.org/newshour