The Fed kept the rate at 5.25–5.5% for the third time – Kommersant
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The US Federal Reserve System (FRS) has left the key rate unchanged for the near future in the range of 5.25–5.50%, it is reported on website regulator The Fed has decided to maintain rates for the third time in a row.
“The Federal Reserve’s Open Market Committee aims to achieve maximum employment and inflation of 2% over the long term. In support of these goals, a decision was made to maintain the target range of the federal funds rate at 5.25-5.5%,” the statement said following the last meeting of the regulator this year.
The Fed said in a statement that growth in economic activity slowed compared to the third quarter of 2023. At the same time, the regulator noted a slowdown in the growth of new jobs. Unemployment remains low and inflation remains high.
Speaking about tightening monetary policy, the regulator indicated that it would be based on many factors. “A wide range of information will be taken into account, including data on labor market conditions, inflation pressures and inflation expectations, as well as financial and international events,” it said. It also notes that the Fed will continue to reduce holdings of Treasury securities, agency debt and mortgage-backed securities.
The news is being updated.
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