The Federal Open Market Committee (FOMC) announced on Wednesday its decision not to change its key interest rate and to keep it between 4.25% and 4.50% for the second consecutive meeting.
Like in its previous statement, the Fed noted that the United States' economic activity has resumed expanding "at a solid pace," coupled with stable employment and firm labor conditions. It also pointed out the still "somewhat elevated" inflation and reiterated its commitment to bring that figure down to 2% over the longer run. The Fed remained "attentive to the risks" to prices and economic outlook.
"The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments," it concluded.
