At the March 20th Federal Open Market Committee ( FOMC) policy meeting, the Federal Reserve maintained interest rates, but officials indicated that three rate reductions were still planned for the current year.
Monetary government kept the standard Fed funds rate at a range of 5.25 percent and 5.5 percent, the highest levels in 23 times.
According to the Fed statement, financial activity remains expanding at a good pace, the U. S. labor market remains robust, and the unemployment rate continues to be reduced.
Although prices is also elevated, it has eased over the past month, the Fed said in its article- meeting speech.
Officials continued to say that interest rates should n’t be lower until the Fed “has gained greater confidence that inflation is moving sustainably toward 2 percent” at the January meeting.
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