The Federal Reserve held interest rates steady and said the risk of inflation has grown but stopped short of signaling that higher interest rates were coming soon.
The decision by the U.S. central bank, announced at the end of a two-day meeting, leaves the benchmark federal funds rate at 2 percent.
"Although downside risks to growth remain, they appear to have diminished somewhat, and the upside risks to inflation and inflation expectations have increased," the Fed said in its statement.
The Fed said "overall economic activity continues to expand," though after its last policy meeting on April 30, it described economy activity as "weak."
And that leads to our Fast Money Reader's Poll. Is the Fed being aggressive enough in it's strategy to fight inflation?
Got something to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap! Prefer to keep your comments private? Send those questions and comments to email@example.com.