Fed holds fire on rates

Fed holds fire on rates

The US Federal Reserve has signalled that it remains on track to raise interest rates this year as policymakers said consumer and business confidence had climbed in the wake of Donald Trump’s US election victory.

While policymakers voted unanimously to keep interest rates at a target range of between 0.5 percent and 0.75 percent, officials said jobs growth remained “solid”, while consumer spending continued to rise “moderately”.

“Measures of consumer and business sentiment have improved of late,” the Federal Open Market Committee (FOMC) said in a statement on February 1.

Policymakers said they expected the US economic recovery to continue amid “gradual adjustments in the stance of monetary policy.”  READ MORE: http://www.telegraph.co.uk/business/2017/02/01/us-federal-reserve-upbeat-economy-interest-rates-held/

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