Fed leaves rates unchanged as expected at 5.00-5.25%; raises 2023 dot plot to 5.6% from 5.1% in March Holding target range steady allows time to assess additional information and implications for policy. Inflation remains elevated, remains highly attentive to inflation risks. Committee strongly committed to returning inflation to its 2% objective. Banking system is sound and resilient. Tighter credit conditions for households and businesses likely to weigh on economic activity, hiring and inflation but extent of effects remain uncertain. Job gains have been robust in recent months, unemployment rate has remained low. Vote in favour of policy was unanimous