US Fed keeps interest rates unchanged: Top highlights from policy review

It held its benchmark rate in a target between 2.25 per cent and 2.5 per cent, thus disappointing President Donald Trump, who earlier this week urged the Fed to cut the rate by 1 percentage point.

The Federal Reserve officials unanimously voted to keep interest rates unchanged in the target between 2.25 per cent and 2.5 per cent in the latest monetary policy review, that concluded on Wednesday. Moreover, the US Fed signalled little appetite to adjust them any time soon, citing strong job creation, ongoing economic growth, and weak inflation.  

“We think our policy stance is appropriate at the moment; we don’t see a strong case for moving it in either direction,” Federal Reserve Chairman Jerome Powell said in a press conference following the end of the central bank’s two-day policy meeting.

Following the policy