Business Standard

US Fed keeps rates steady, flags 'uncertainties' from coronavirus outbreak

Central bank keeps key overnight lending rate remains at 1.50%-1.75%; chief says policy appropriate and not on preset course.

Jerome Powell

In a speech last month, the Federal Reserve chairman, Jerome Powell, discussed the 1990s experience, suggesting that Greenspan’s strategy at that time was one to emulate

Howard Schneider and Lindsay Dunsmuir | Reuters Washington
The Federal Reserve held interest rates steady on Wednesday at its first policy meeting of the year, with the head of the US central bank pointing to continued moderate economic growth and a "strong" job market, and giving no sign of any imminent changes in borrowing costs.

"We believe the current stance of monetary policy is appropriate to support sustained economic growth, a strong labor market and inflation returning to our symmetric 2% objective," Fed Chairman Jerome Powell said at a news conference following the central bank's unanimous decision to maintain the key overnight lending rate in a range of between

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 30 2020 | 6:32 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to