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
- New natural gas project off Senegal makes fishing communities feel threatened
- Watch: Paris erupts in chaos after PSG win Champions League; nearly 300 arrested amid riots
- Iran warns of retaliation if Europeans ‘exploit’ UN nuclear report
- Ukraine war sparks shift as young Germans warm to careers in defence industry
- Nine Rulings, One Nation: The Supreme Court’s June Reckoning
- Top defense officials say Ukraine war has blurred lines, exposing global threats
- Cory Booker makes controversial ‘Nazi’ gesture at convention, Elon Musk reacts
- Canadian man wins jackpot, gives $3.6m to girlfriend, who leaves him for someone else