US Federal Reserve retains interest rate at 5.25-5.5%

Business & Economy November 01, 2023, 23:46

The FOMC said it aims to achieve maximum employment and inflation of 2% over the long term

MOSCOW, November 1. /TASS/. The US Federal Reserve System kept the base rate at 5.25-5.5% following a meeting on Wednesday.

"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 maintain the target range for the federal funds rate at 5-1/4 to 5-1/2%," the statement said.

The decision was made unanimously by all committee members. The results of the next meeting of the US regulator will be published on December 13, 2023, along with new macroeconomic estimates.

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