David_N
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Excellent news. No reason for a rate hike right now. The fed can't even reach its modest inflation target.
Fed keeps US rate hike on hold - BBC News
Fed keeps US rate hike on hold - BBC News
The Federal Reserve has decided not to raise interest rates, maintaining the ultra-low level they have been at since December 2015.
The US central bank opted to keep rates between 0.25% and 0.5%.
The Fed said "near-term risks to the economic outlook have diminished," but inflation remained below the bank's target.
It is still expected to raise rates twice this year. Investors expect the first increase to come in autumn.
In a statement, the Federal Open Market Committee (FOMC) said household spending was "growing strongly" and the unemployment rate had decreased for the last two months.
However, the Fed has held back from raising rates while inflation remains under its 2% target. The measurement used by the central bank lists current US inflation at 1.6% and it has hovered below the Fed's target since 2012.