The Federal Reserve kept its key rate unchanged, but almost half of its policymakers indicated they could support a rate hike later this year.

How this affects you

This unexpected stance from the Federal Reserve suggests a more aggressive approach to combating inflation, potentially leading to higher borrowing costs for consumers and businesses in the US, and impacting global financial markets aware of the US Fed's influence. It also indicates a shift in the Fed's outlook from previous intentions to cut rates, reflecting current economic pressures.