U.S. Fed leaves interest rates unchanged

U.S. Fed leaves interest rates unchanged

The U.S. Federal Reserve held interest rates steady following its two-day meeting this week and indicated that no action is likely next year amid persistently low inflation.

Concluding a year that saw the central bank take down its benchmark rate three times, the Federal Open Market Committee met widely held expectations and kept the funds rate in a target range of 1.5%-1.75%.

In its statement explaining the decision, the committee indicated that monetary policy is likely to stay where it is for an unspecified time, though officials will continue to monitor conditions as they develop, CNBC reported.

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