“The Federal Reserve left its benchmark interest rate at 2 percent, ending the most aggressive series of rate cuts in two decades, as higher energy costs threaten to boost inflation….Treasuries, which had fallen before the statement, dropped to their lows of the day before rebounding. Two-year note yields were 2.93 percent at 2:26 p.m. in New York, from 2.84 percent late yesterday.”
∙ Fed Keeps Rate at 2%, Cites `Upside’ Inflation Risks [Bloomberg]