Fed holds rates at 22-year high, signals concern on yield rise

The decision left the target range for the benchmark federal funds rate unchanged at 5.25% to 5.5%, the highest since 2001, as part of a strategy to slow the pace of rate increases as the central bank nears the end of its tightening campaign. The S&P 500 index and Treasuries extended their rally while the dollar slipped after the announcement.

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