The Federal Reserve keeps the interest rate unchanged

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Mubasher: The US Federal Reserve kept the interest rate unchanged by the end of the Monetary Policy Committee meeting.

The Federal Council indicated in its monetary policy statement issued today, Wednesday, that it decided to fix the interest rate at a level ranging from zero to 0.25 percent, in line with analyst expectations.

The council indicated that it will maintain the bond purchase program until the economy achieves remarkable progress towards achieving the two goals of increasing the employment rate and stabilizing prices.

The Monetary Policy Committee stated that it targets an inflation rate of 2 percent in the short and medium term.

The Monetary Policy Committee confirmed that it will continue to monitor the repercussions of the information received on the economic outlook, and will be ready to adjust the position of monetary policy in an appropriate manner if risks arise that may hinder the achievement of the Committee’s objectives.

It noted that it takes into account a wide range of information, including readings on public health, labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

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