The US Federal Reserve kept its benchmark interest rate unchanged at 3.5%-3.75%, citing steady economic growth and persistent inflation. The Fed signalled caution amid global uncertainties and said future decisions will depend on incoming economic data.
Washington DC [US], March 19: The US Federal Reserve has decided to keep its benchmark federal funds rate unchanged at 3.5%–3.75%.
Fed cites steady growth and elevated inflation
According to an official press release on Wednesday, the Fed said, "Available indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has been little changed in recent months. Inflation remains somewhat elevated."
Uncertainty remains amid global developments
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