United States Federal Reserve's Federal Open Market Committee (FOMC) revealed on Wednesday in a statement that there was a unanimous agreement between the members to maintain the key rate between 5.25% and 5.50%. This is the second time in a row the bank has opted for such a course of action.
The Fed shared that in the third trimester, the economic activity in the United States saw an expansion at a "strong pace." It further reiterated that even though job gains have "moderated" they still remain "strong," with the unemployment rate at low levels and the inflation still seen as "elevated."
Furthermore, the central bank insisted yet again that it will continue to gauge whether additional monetary policy tightening could be necessary in the future by looking at various economic information at its disposal.
