Following its latest Federal Open Markets Committee (FOMC) meeting on Jan. 29, the U.S. Federal Reserve maintained its benchmark interest rate, though signaled confidence in economic progress on the inflation front.
That leaves the Fed rate at 4.25% to 4.5%. The hold followed three straight rate cuts since September.
source: tradingeconomics.com
“Recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. Inflation remains somewhat elevated,” the Fed said in its FOMC update. “The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance.”
The Fed’s next FOMC meeting is set for March 18-19.
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