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.
Trending
- Watch: Iran launches fresh strikes on Israel; missiles seen streaking across Jerusalem skies
- Who is Vance Boelter? Suspect arrested in Minnesota lawmaker shooting; What we know
- THEY GOT HIM: Minnesota Shooter Vance Boelter Apprehended
- In Today’s Modern World, Pakistan Has a Sub-Conventional Army
- NYC Mayoral Polls: Eric Adams seeks re-election as early voting begins— Full list of contenders
- EU chief pushes for diplomatic solution to Israel-Iran crisis in call with Netanyahu
- NYC Primary Elections 2025: Strong early voting numbers— All you need to know
- ASU’s ‘Queer Visual Resource Center’ features sexually explicit art, free condoms