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Amman, July 29 (Petra) — The U.S. Federal Reserve left its benchmark
interest rate unchanged on Wednesday, keeping the target range at
3.50% to 3.75% in a decision that saw policymakers divided.
Inflation remains relatively high compared with the Fed’s 2% target,
driven in part by supply shocks in certain sectors such as energy,
the central bank said in a statement reported by Reuters. It also
noted that the unemployment rate was largely unchanged.
The Fed said economic activity continues to expand at a moderate pace
while the labor market remains solid. However, uncertainty
surrounding the economic outlook remains elevated, with future
monetary policy decisions dependent on incoming data and evolving
risks to inflation and employment.
Three of the 12 members of the Federal Open Market Committee
dissented, favoring a quarter-percentage-point rate hike, while nine
voted to hold rates steady.
//Petra// AF
