The Federal Open Market Committee voted to hold the benchmark funds rate in a range between 3.5-3.75 per cent.
The committee seeks to achieve maximum employment and inflation at 2 per cent rate over the longer run.
The US Federal Reserve (Fed) has left its benchmark interest rate unchanged for the third meeting in a row amid a solid expansion of economic activity, persistent inflation, low job gains, and little change in unemployment rate in recent months.
Developments in the Middle East are contributing to a high level of uncertainty about the economic outlook.
Developments in the Middle East are contributing to a high level of uncertainty about the economic outlook, the Fed said in a press release.
Fed chair Jerome Powell, due to step down in mid-May, told a press conference that he plans to continue to serve on the board of governors until an investigation of the Fed is “well and truly over with transparency and finality.” He may remain governor until 2028.
Fibre2Fashion News Desk (DS)
