Federal Reserve Keeps US Interest Rate At 2.25%-2.5% Range - Statement

The Federal Reserve Federal Open Market Committee (FOMC) said in a statement on Wednesday that it will maintain the US interest rate at the 2.25-2.5 percent range, indicating that no changes are expected for the rest of the year

WASHINGTON (UrduPoint News / Sputnik - 20th March, 2019) The Federal Reserve Federal Open Market Committee (FOMC) said in a statement on Wednesday that it will maintain the US interest rate at the 2.25-2.5 percent range, indicating that no changes are expected for the rest of the year.

"Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.

In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent," the statement said.

In light of domestic and global economic and financial developments and muted inflation pressures, the FOMC said it "will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate."