2-year Treasury yield slips below 5% after Fed delivers another pause in interest rate hikes

Yields on U.S. government debt remained lower on Wednesday after Federal Reserve officials took no action on interest rates for a second straight meeting.

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As widely expected, Fed officials voted unanimously to hold their main interest-rate target at a 22-year high of 5.25%-5.5% on Wednesday, but they left the option of a rate hike on the table. In a post-meeting press conference, Fed Chairman Jerome Powell said officials remain strongly committed to bringing inflation…