The Fed decided to keep its benchmark interest rates unchanged at 3.5%-3.75% for now. The decision was widely expected.
“Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East,” the independent agency said in a statement providing its rationale for the decision. “Productivity growth and capital investment are strong. Job gains have kept pace with the workforce, and the unemployment rate has changed little.”The press conference is scheduled to start at 2:30 p.m.
