Mumbai: The Federal Reserve (Fed) left its key benchmark rate unchanged on Thursday, despite renewed calls by President Donald Trump to cut interest rates. It was decided to keep the Federal Funds rate between 2.25% and 2.5%.
The Fed unanimously agreed to leave rates alone, sticking with the wait-and-watch approach outlined earlier this year amid uncertainty about where the US economy is headed. The Chairman remarked that the Fed did not see a strong case for rates moving in either direction and was comfortable with the current policy stance.
Note: Care Rating’s Economics division released a report ‘Federal Reserve Action and Impact on India’ on 2nd May. The above article is based on the write up from the said report.