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Federal Reserve Leaves Interest Rate Unchanged
As expected, the U.S. Federal Reserve voted unanimously today not to change its benchmark interest rate from the current 2.25%-2.5%.
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As expected, the U.S. Federal Reserve voted unanimously today not to change its benchmark interest rate from the current range of 2.25%-2.5%.
The central bank declared the U.S. economy to be on a “healthy path,” although it notes a slowdown in inflation that could prompt action if it persists below the bank’s 2% target. Core inflation, which ignores volatile food and fuel prices, slowed to 1.6% in March from 1.8% in January and 2% in December.
The Fed pointedly ignored President Donald Trump’s repeated suggestions earlier this week that it cut interest rates by as much as one point to help the economy “go up like a rocket.”
The bank insists its decisions are immune to politics. But observers say that maintaining that position—especially if the Fed does change its policy in the months ahead—will be more difficult to defend if the president persists in offering advice.
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