Fed’s FOMC leaves interest unchanged

The Federal Reserve left interest rates untouched at 5-1/4 to 5-1/2 per cent, according to the Federal Open Market Committee (FOMC) statement released on Wednesday night (CLT).

The committee attributed the decision to the expanding economic activity, low unemployment rate and eased inflation.

“The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are moving into better balance. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks,” the statement read.