Fed keeps key rate steady but notes rising inflation
Share
Tweet
May 3, 2018
WASHINGTON (AP) — The Federal Reserve kept its benchmark interest rate unchanged Wednesday but noted that inflation is nearing its 2 percent target rate after years of remaining undesirably low.
The Fed ended its latest policy meeting by leaving its key short-term rate unchanged at 1.5 percent to 1.75 percent, the level it set in March after its sixth rate increase since December 2015. The Fed is gradually tightening credit to control inflation against the backdrop of a tight job market, a resilient economy and a pickup in consumer prices.
In a statement, the central bank said it expects "furt...
For access to this article please
sign in or
subscribe.
Reader Comments(0)