NEW YORK (USA) (ITALPRESS) – The Federal Reserve has left interest rates unchanged in a fork between 3.50 and 3.75%. “The indicators available suggest that economic activity expanded at a sustained pace. The increase in employment remained low and the unemployment rate showed some signs of stabilisation. Inflation remains quite high. The Committee aims to achieve the maximum employment and inflation rate at 2% over the long term. The uncertainty about economic prospects remains high. The Committee is attentive to the risks for both parts of its dual mandate”, reads in a note from the Fed. In assessing the extent and timeliness of further adjustments to the target range for the rate on federal funds, the Committee “will carefully review the incoming data, the evolution of perspectives and the balance of risks.”.
In assessing the appropriate orientation of monetary policy, the Committee will continue to monitor the implications of incoming information on economic prospects. The Committee will be ready to adapt the direction of monetary policy, if appropriate, if there are any risks that could hinder the achievement of objectives.” Fed president, Jerome Powell, said that “there are better economic prospects than the last meetings and for these reasons we decided to keep the rates steady. The unemployment rate shows signs of stabilisation, we believe we can achieve our inflation target in the long term.”.
– photo IPA Agency –
(ITALPRESS).
