US Fed keeps rates unchanged despite Trump pressure

"The US Federal Reserve on Wednesday announced that it will keep interest rates unchanged. The central bank will keep the target range for the federal funds rate at range between 3.5% and 3.75%. The Fed had lowered rates three times last year. "Available indicators suggest that economic activity has been expanding at a solid pace," the bank said in a statement. "Job gains have remained low, and the unemployment rate has shown sign of stabilization. Inflation remains somewhat elevated.""

"Ten of the 12 members of the Federal Open Market Committee voted for the policy, with two dissenting. Fed Governors Stephen Miran and Christopher Waller, both appointed by US President Donald Trump, were instead in favor of a quarter-point reduction in the rates. Federal Reserve Chair Jerome Powell was one of the ten members who voted in favor of keeping the rates as they are."

The US Federal Reserve left interest rates unchanged, maintaining the federal funds target range at 3.5% to 3.75%. The Fed had lowered rates three times during the previous year. Available indicators suggest economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has shown signs of stabilization. Inflation remains somewhat elevated. Ten of the 12 FOMC members voted to maintain the current policy, while two dissented. Governors Stephen Miran and Christopher Waller favored a quarter-point cut, and Chair Jerome Powell voted to keep rates unchanged.

Read at www.dw.com