The Federal Reserve kept interest rates unchanged within a range of 3.75%-4%, as expected, marking the sixth time it has left borrowing costs unchanged this year.
The decision follows a rate hike last month, the first since July 2023.
According to the monetary policy of the Federal Open Market Committee, the economy is expanding at a solid pace, and uncertainty persists due to geopolitical developments.
Domestic spending, according to the statement, remains resilient, and productivity growth is strong. Capital investment is also strong, and job gains are consistent with growth in the labor force.
However, inflation remains elevated, and incoming data will help determine the appropriate path for monetary policy. The aim is to ensure inflation returns to the 2% target.
Lisa Cook and Beth Hammack voted against the decision to hold rates steady. Both officials preferred a 25-basis-point increase in the target range.
The unemployment rate has changed little, according to the statement.
The Federal Reserve kept interest rates unchanged within a range of 3.75%-4%, as expected, marking the sixth time it has left borrowing costs unchanged this year.
The decision follows a rate hike last month, the first since July 2023.
According to the monetary policy of the Federal Open Market Committee, the economy is expanding at a solid pace, and uncertainty persists due to geopolitical developments.
Domestic spending, according to the statement, remains resilient, and productivity growth is strong. Capital investment is also strong, and job gains are consistent with growth in the labor force.
However, inflation remains elevated, and incoming data will help determine the appropriate path for monetary policy. The aim is to ensure inflation returns to the 2% target.
Lisa Cook and Beth Hammack voted against the decision to hold rates steady. Both officials preferred a 25-basis-point increase in the target range.
The unemployment rate has changed little, according to the statement.
