The United States Federal Reserve's Federal Open Market Committee (FOMC) revealed on Wednesday in a statement that the members agreed to hold the federal funds rate between 5.25% and 5.50% for the eighth consecutive time.
Despite progress, the economic outlook remains "uncertain," pressing the Committee to carefully assess incoming data before making further rate adjustments. The Committee also reiterated it will not lower rates "until it has gained greater confidence that inflation is moving sustainably toward 2%."
In addition, the Committee added that it would persist in lowering its holdings of Treasury securities, agency debt, and agency mortgage‑backed securities. "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 Fed concluded.
