MOSCOW, May 3. /TASS/. The US Federal Reserve, which acts as the country's central bank, raised the base rate by 25 basis points (b.p.) to 5-5.25% following the results of the May meeting, the regulator said in a statement.

"The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 5 to 5-1/4% The Committee will closely monitor incoming information and assess the implications for monetary policy," the statement said.

According to the Federal Reserve, "Economic activity expanded at a modest pace in the first quarter. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks.".