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Fed Holds Interest Rates Steady
The Federal Reserve says it will continue its prime lending rate between 0.25% and 0.5% and suggests it won't raise them again until it sees more evidence that the American labor market is strengthening.
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The Federal Reserve says it will continue its prime lending rate between 0.25% and 0.5% and suggests it won't raise them again until it sees more evidence that the American labor market is strengthening.
The central bank, which last raised rates in December, says it expects to make only two small upward adjustments this year—half the number it anticipated three months ago.
The Fed also awaits evidence that America’s inflation rate, currently at 1.4%, is moving toward the 2% pace the bank considers healthy. The bank describes growth in household spending as “moderate” but says business fixed investment and net exports remain “soft.”
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