Close X
Monday, November 11, 2024
ADVT 
International

US Fed Leaves Interest Rates Unchanged

Darpan News Desk IANS, 17 Sep, 2015 12:32 PM
    To the relief of investors worldwide, the US Federal Reserve on Thursday kept interest rates unchanged in the face of jittery financial markets and a global slowdown
     
    Amid widespread speculation that the US central bank would end its zero interest rate policy, it instead opted to hold interest rates steady for at least one more month near zero.
     
    The rate has been in the zero to 0.25 percent range since December 16, 2008, when the committee cut it to help the US economy pull out of a steep recession triggered by the housing crash.
     
    "Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term," the Fed said in its policy statement at the end of a two-day meeting.
     
    Announcing the decision, The Fed's Open Market Committee said the risks to the US economy remained nearly balanced but that it was "monitoring developments abroad."
     
    Though giving a nod to an improving economy, with expectations slightly higher for gross domestic product and lower for the unemployment rate than three months ago, the Fed said low levels of inflation remain a problem.
     
    "The committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labour market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term," it said.
     
    The vote to keep rates at zero saw only one dissent, from Jeffrey Lacker who wanted to raise by a quarter point - a move seen on Wall Street as a virtual lock just a month ago until markets revolted, according to CNBC.

    MORE International ARTICLES

    Thousands Enjoy India Fest In US City Of Palmetto

    Thousands Enjoy India Fest In US City Of Palmetto
    Thousands of lovers of authentic Indian cuisine, dances, apparel, jewellery and spa treatments attended the third annual Manasota India Fest in the US city of Palmetto, a media report said on Sunday.

    Thousands Enjoy India Fest In US City Of Palmetto

    Hillary Clinton's Triple Trouble - Donald Trump, Sanders And Emails

    If Republicans are hoping to ride out the tornado that Donald Trump has come to be, Hillary Clinton's troubles reflected in her falling poll numbers are posing a dilemma for the Democrats too.

    Hillary Clinton's Triple Trouble - Donald Trump, Sanders And Emails

    Opponents Take Aim At U.S. West Coast Crude-by-Rail Projects In The Works

    Opponents Take Aim At U.S. West Coast Crude-by-Rail Projects In The Works
    To crude producers hankering for a route to market while pipeline proposals stall, a bevy of crude-by-rail projects planned on the U.S. West Coast may look enticing.

    Opponents Take Aim At U.S. West Coast Crude-by-Rail Projects In The Works

    Indian-American Teen Dancer Sharanya Balaji To Raise Funds For US School

    Indian-American Teen Dancer Sharanya Balaji To Raise Funds For US School
    Sharanya Balaji, a 16-year-old senior from Harker school, said she wants to help the Grant Elementary School which lacks basic education facilities

    Indian-American Teen Dancer Sharanya Balaji To Raise Funds For US School

    Complaint Against Hate Video Targeting Indian-Origin Transgenders

    Complaint Against Hate Video Targeting Indian-Origin Transgenders
    An organisation that governs and cares for the transgender community in Malaysia has lodged a police complaint on a hate video that sought physical violence against the community.

    Complaint Against Hate Video Targeting Indian-Origin Transgenders

    No NSA talks on basis of India's conditions: Pakistan

    India said on Saturday that Pakistan's decision that NSA talks cannot be held is unfortunate and that "India did not set any preconditions".

    No NSA talks on basis of India's conditions: Pakistan