The US Federal Reserve kept the rate at 1.625% and said:
The information received after the Fed's meeting on open markets in December indicates that the labor market remains strong, and economic activity is growing at a moderate pace. In recent months, the average employment growth has been significant, while the unemployment rate has remained low. Although household spending is growing at a moderate pace, the business investment in fixed assets and exports remains weak. On a 12-month basis, the overall rate of inflation and inflation for goods other than food and energy is less than 2 percent. Market indicators of inflation remain low; The indicators of long-term inflation expectations based on survey results have not changed much.
In accordance with its statutory mandate, the committee seeks to promote maximum employment and price stability. The committee decided to maintain the target range for the Federal funds rate at 1-1 / 2 to 1-3/4 percent. The committee believes that the current position of the monetary policy is appropriate to support the sustainable expansion of economic activity, strong labor market conditions, and the return of inflation to the committee's target of 2% equilibrium. The committee will continue to monitor the impact of incoming information on the economic outlook, including global changes and restraining inflationary pressures, as it assesses the appropriate path of the target range for the Federal funds rate.
In determining the timing and amount of future adjustments to the target range for the Federal funds rate, the committee will evaluate the realized and expected economic conditions relative to its maximum employment goal and its symmetrical 2% inflation goal. This assessment will take into account a wide range of information, including indicators of labor market conditions, indicators of inflationary pressure and inflation expectations, as well as indications about financial and international events.
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