U.S. Federal Reserve Keeps Key Rate in the 3.75-4% Range

The U.S. Federal Reserve left the federal funds rate at an annual level of 3.75–4%. The decision was made following a meeting that concluded on Wednesday.

Ten of the 12 members of the Federal Open Market Committee supported maintaining the rate. Beth Hammack and Lisa Cook advocated for increasing it by 25 basis points.

The Committee reported accelerated growth in economic activity, stable domestic demand, and high rates of labor productivity growth. According to its assessment, employment is growing at a pace comparable to the expansion of the labor force, while unemployment has changed insignificantly.