Federal Reserve keeps interest rates at 23 year high

(CNN)– The Federal reserve on Wednesday announced it’s keeping its benchmark lending rates where they are.

The non-move represents the 7th time in a row the Fed elected to keep interest rates where they are.

Those rates have stood at a 23-year high for nearly a year. The Fed is waiting on more evidence that inflation will head down toward 2%.

Wall Street is speculating the next rate cut could come in September.