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Fed Upbeat on U.S. Economy, Holds Interest Rates Steady
The Federal Reserve says the U.S. jobs market continues to improve, economic activity is growing and measures of consumer and business sentiment are improving.
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The Federal Reserve says the U.S. jobs market continues to improve, economic activity is growing and measures of consumer and business sentiment are improving.
But the central bank also voted unanimously to leave its benchmark interest rate unchanged from its current range of 0.5%-0.75%.
The Fed reiterates its desire to avoid a sudden upturn in inflation, which it expects to surpass a target of 2% “over the medium term.” The bank made no mention of when it might resume last year’s announced plan to slowly raise rates in multiple steps this year. December’s quarter-point increase was only the second in a decade.
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