US Fed holds rates steady in Powell's final meeting as Fed chair

"The central bank announced its decision, which was largely in line with economists' expectations, on Wednesday, wrapping up the last two-day policy meeting led by Chairman Jerome Powell."

"Inflationary pressures on oil markets and a stagnant labour market have weighed on the central bank's decision-making."

"Developments in the Middle East are contributing to a high level of uncertainty about the economic outlook, the central bank said in a statement."

"Job gains have remained low, on average, and the unemployment rate has been little changed in recent months."

The Federal Reserve has decided to keep interest rates steady at 3.5 to 3.75 percent amid ongoing inflation concerns and global economic strain, particularly influenced by the US-Israel war on Iran. This decision aligns with economists' expectations and reflects the central bank's response to inflationary pressures, especially in oil markets, and a stagnant labor market. Job gains have been low, and the unemployment rate has remained stable. The economic outlook is uncertain due to developments in the Middle East.

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