New Delhi, July 29 -- As widely expected, the U.S. Federal Reserve, led by Chair Kevin Warsh, left interest rates unchanged on Thursday. It was the fifth straight policy meeting at which policymakers opted to keep rates steady while awaiting greater clarity on the inflation outlook and the broader economic trajectory before making any changes to monetary policy.

The decision was announced following the conclusion of the Federal Reserve's two-day Federal Open Market Committee (FOMC) meeting.

The central bank of the world's largest economy kept the benchmark interest rate unchanged at 3.50%-3.75%, while its outlook for inflation, unemployment, and economic activity remained largely unchanged from the June meeting.

Three of the 12 policym...