US Federal Reserve keeps interest rates steady at 4.25–4.5%

The US Federal Reserve’s Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at 4.25 to 4.5 per cent, according to a statement released on Tuesday.

The Committee said it would carefully assess incoming data, the evolving outlook, and the balance of risks to determine the extent and timing of any further adjustments to the target range.

It confirmed plans to continue reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities.

The FOMC reaffirmed its strong commitment to supporting maximum employment and returning inflation to its 2 per cent objective.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama