Federal Reserve officials voted unanimously to leave interest rates unchanged while signaling they remain on track to hike once more this year, a day before President Donald Trump plans to unveil his choice to lead the U.S. central bank.
Recent data indicate that “the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions,” the Federal Open Market Committee said in a statement Wednesday following a two-day meeting in Washington.
Officials gave no sign that their expectations for a third interest-rate increase this year have been derailed. The Fed repeated its assessment that while inflation may “remain somewhat below 2 percent in the near term,” it’s expected to stabilize around the central bank’s 2 percent objective “over the medium term.”
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