Federal Reserve (Fed) policymakers on Wednesday, citing the resilience of the U.S. job market and broader economy, left interest rates at elevated levels. This, in turn, could deter borrowing and new investment at a time when natural gas producers are bracing for long-term growth to meet a surge in global LNG demand.

At issue: The Fed pushed up its benchmark rate multiple times over the course of 2022 and last year – more than doubling borrowing costs. It did this as part of an effort to tame spending and curb inflation that reached a 40-year high of 9.1% in mid-2022. The interest increases made a big impact. The inflation rate stood at 6.5% at the end of 2022 and fell to 3.4% at the close of last year.

Still, inflation continues to hover well above the Fed’s preferred...