Feds Vote To Leave Interest Rates Unchanged

Policy-makers voted to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%.

The Federal Reserve announced it will leave interest rates unchanged amid concerns about inflation rising further during the war with Iran.

Policy-makers voted to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%. The move follows the Central Bank’s decision to hold rates steady in January and March. That followed three 25-basis-point rate cuts in September, October and December to close out last year.

The Federal Open Market Committee, the Central Bank’s panel responsible for monetary policy moves, voted 11-1 to leave interest rates unchanged.

The committee meeting is expected to be the last under the leadership of Federal Reserve Chairman Jerome Powell. His term is due to expire on May 15.