The Federal Reserve kept interest rates unchanged on Wednesday but signalled in new economic projections that borrowing costs will likely rise by another half of a percentage point by the end of this year as the US central bank reacted to a stronger-than-expected economy and a slower decline in inflation.
In an effort to balance risks to the economy with a still unresolved fight to control inflation, “holding the target [interest rate] range steady at this meeting allows the committee to assess additional information and its implications for monetary policy,” the rate-setting Federal Open Market Committee said in a unanimous policy statement issued at the end of its latest two-day meeting.
Al Jazeera’s Heidi Zhou-Castro reports from Washington, DC.
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In an effort to balance risks to the economy with a still unresolved fight to control inflation, “holding the target [interest rate] range steady at this meeting allows the committee to assess additional information and its implications for monetary policy,” the rate-setting Federal Open Market Committee said in a unanimous policy statement issued at the end of its latest two-day meeting.
Al Jazeera’s Heidi Zhou-Castro reports from Washington, DC.
Subscribe to our channel: http://bit.ly/AJSubscribe
Follow us on Twitter https://twitter.com/AJEnglish
Find us on Facebook https://www.facebook.com/aljazeera
Check our website: http://www.aljazeera.com/
Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/
#UnitedStates #FedReserve #FederalReserve #InterestRate #Finance #Banks #AlJazeeraEnglish
- Category
- World
- Tags
- 2023 financial crisis, Business Economy, Federal Reserve
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