Thursday, January 28, 2016

US Central Bank in Wait-and-See Mode Amid Market Turbulence


The US Federal Reserve kept interest rates unchanged on Wednesday and said it was “closely monitoring” global economic and financial developments.

The Fed’s statement signaled it had accounted for a stock market sell-off but wasn’t ready to abandon a plan to raise the cost of borrowing this year.

The decision by the central bank’s rate-setting committee was widely expected after a month-long plunge in US and world shares raised concerns that an abrupt global slowdown could become a drag on US growth.

Fed policymakers said the economy was still on track for moderate growth and a stronger jobs market even with “gradual” rate increases. 

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Source: Euronews

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