US Federal Reserve announces interest rate decision

The US Federal Reserve has announced its interest rate decision. Accordingly, the Fed kept the policy interest rate unchanged at the 3.50-3.75 percent range at its meeting.

The US Federal Reserve (Fed) kept interest rates unchanged in its first meeting of the year, in line with expectations.

With the decision taken by a 10-to-2 vote, the Fed left the policy interest rate in the 3.50–3.75 percent range.

In the statement regarding the decision, it was emphasized that economic activity is "expanding at a solid pace," while the unemployment rate shows "some signs of stabilization."

Two members of the Federal Open Market Committee dissented from the decision. Fed Board Member Stephen Miran and Christopher Waller, who is rumored to be a potential successor to Chair Jerome Powell, advocated for a 25 basis point interest rate cut.