Fed meeting live updates: Powell says not as much progress being made on inflation as 'hoped'
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This is CNBC's live blog covering the Federal Open Market Committee meeting and Chair Jerome Powell's press conference. The Federal Reserve kept a steady hand on its overnight lending rate, maintaining a target range of 3.5% to 3.75%. The central bank's "dot plot" suggests a cut may be in the cards this year. The policymakers' move comes at a key time for investors: Oil prices have been surging amid the Iran war, with Brent futures topping $109 a barrel at one point Wednesday. The producer
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