Fed holds rates steady, sees economy on track

  09 November 2018    Read: 978
Fed holds rates steady, sees economy on track

The US Federal Reserve held interest rates steady on Thursday and said ongoing strong job gains and household spending had kept the economy on track, according to Reuters.

“The labor market has continued to strengthen and ... economic activity has been rising at a strong rate,” the Fed said in its latest policy statement, leaving intact its plans to continue raising rates gradually.

The statement reflected little change in the US central bank’s outlook for the economy since the last policy meeting in September, with inflation remaining near its 2 percent target, unemployment falling and risks to the economic outlook appearing to be “roughly balanced.”

More about: #Fed