WASHINGTON (Sputnik) — The United States will keep interest rates without changes at 0.25-0.5 percent range, the Federal Reserve’s open market committee announced in a press release on Wednesday.
"Given the economic outlook, the Committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent," the release said.
The Federal Reserve will raise interest rates after assessing the expected and realized economic conditions relative to the objective of maximum employment and 2 percent inflation, according to the release.
The Committee noted that US inflation continues to run low, reflecting the plummeting energy process.
The Federal Reserve is the central banking system of the United States whose purpose is to maintain maximum employment and stabilize prices. The Federal Reserve meets regularly to establish interest rates, the main tool used to influence monetary and credit conditions.
