Federal Reserve policy makers voted
unanimously to keep the benchmark U.S. interest rate unchanged at
1 percent, and said rates will stay low “for a considerable
period.”
Members of the Federal Open Market Committee were encouraged
by signs that the lowest borrowing costs in 45 years, coupled
with rising productivity, are helping the expansion to
accelerate. They remained concerned about the possibility
inflation could slow further.
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“The evidence accumulated over the intermeeting period
shows that spending is firming, although labor market indicators
are mixed,” committee members said in a statement following the
meeting.
The central bankers signaled they are still concerned that
prices are rising at an ever-slower pace, and said rates will remain on hold for some time.
“The risk of inflation becoming undesirably low is likely
to be the predominant concern for the foreseeable future,” they
said in their statement. “In these circumstances the committee
believes that policy accommodation can be maintained for a
considerable period.”
Bloomberg News
