Fed votes to maintain rate, again

The Federal Reserve’s Federal Open Market Committee (FOMC) announced this week that it will maintain the target range for the federal funds rate at 5.25% to 5.50%. Recent indicators show solid economic growth, moderated job gains, and a slight rise in unemployment, though it remains low. Inflation has eased but is still somewhat elevated.

The Committee remains committed to its 2% inflation objective and will continue reducing its Treasury and mortgage-backed securities holdings. Chair Jerome Powell and other key members voted for the action.

See the full release here.