The U.S. Federal Reserve has kept unchanged the benchmark interest rates for the 5th straight quarter at a 23-year high of 5.5%. With the rates at a high since March 2022, the Federal Open Market Committee (FOMC) aims to bring down post-lockdown inflation, the Fed Reserve has said in a press release.
Economic expansion continues with strong job gains and low unemployment, though inflation remains somewhat high. The Federal Reserve aims for maximum employment and 2% inflation. Maintaining the federal funds rate, it remains vigilant on inflation risks, adjusting policy stance as needed.
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