ADVERTISEMENT

US Federal Reserve leaves interest rates unchanged

US Federal Reserve leaves interest rates unchanged

Published
Hot News
1 min read
WASHINGTON, Jan. 30, 2019 (Xinhua) -- U.S. Federal Reserve Chairman Jerome Powell speaks during a press conference in Washington D.C., the United States, on Jan. 30, 2019. The U.S. Federal Reserve on Wednesday left interest rates unchanged, in line with market expectations, reaffirming its position to be patient with future rate hikes. (Xinhua/Ting Shen/IANS)
Washington, Jan 31 (IANS) The US Federal Reserve on Wednesday left interest rates unchanged, in line with market expectations, reaffirming its position to be patient with future rate hikes.
In support of the goals to foster maximum employment and price stability, the Federal Open Market Committee decided to maintain the target range for the federal funds rate at 2.25 per cent to 2.5 per cent, the central bank said in a statement after concluding a two-day policy meeting, Xinhua reported.
The committee continues to view sustained expansion of economic activity, strong labour market conditions, and inflation near its 2 per cent objective as the most likely outcomes, the Fed said.
"In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes," it said.
The Fed in December raised short-term interest rates by a quarter of a percentage point, but signalled a slower pace of rate hikes in 2019 as the US economy was expected to cool down.
--IANS
pgh/

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.

The Quint is available on Telegram & WhatsApp too, click to join.

ADVERTISEMENT
ADVERTISEMENT
Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!
ADVERTISEMENT