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Federal Reserve signals that interest rate cuts aren’t imminent, leaves them unchanged for now

FEDERAL RESERVE Chairman Jerome Powell speaks during a news conference following the Federal Open Market Committee meeting. The Federal Reserve on Wednesday kept its key rate unchanged at about 5.4%, a 22-year high. /ASSOCIATED PRESS FILE PHOTO / JACQUELYN MARTIN

WASHINGTON (AP) – The Federal Reserve indicated Wednesday that it’s nearing a long-awaited shift toward cutting interest rates, a sign that officials are confident that they’re close to fully taming inflation. The Fed kept its key rate unchanged at about 5.4%, a 22-year high. But in a statement, it signaled a shift by dropping previous

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