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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