1. Fed leaves rates unchanged but keeps door open to another hike
The Federal Reserve left its benchmark short-term interest rate unchanged on Wednesday, but kept the door open to another hike later this year to continue fighting inflation. The central bank has raised rates 11 times since March 2022, the fastest pace in four decades. The Fed also indicated at the end of its two-day policy meeting that it would likely keep rates high for longer than previously hoped to prevent prices from rising too much, indicating that households shouldn't expect relief from high borrowing costs anytime soon. The Fed projected that inflation should fall below 3% next year and return to its 2% target by 2026, suggesting that a "soft landing" for the economy is possible, Bloomberg reported. CNBC, Bloomberg
2. Biden administration cancels debt for University of Phoenix borrowers
3. US provides $600 million to Covid test manufacturers
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4. Report: Writers, producers near deal to end strike
5. Stock futures fall after Fed meeting
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