US borrowing costs hit 19-year high as Fed holds interest rates

The Guardian reports that US government borrowing costs have hit their highest level in nearly two decades, with the yield on thirty-year Treasury bonds rising to five point two four percent. The Federal Reserve held its key interest rate steady — between three point five and three point seven five percent — for the fifth consecutive meeting even as inflation pressures mount. The decision has sparked concern that the central bank may not be tightening policy quickly enough to rein in rising prices.

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