Fed keeps interest rates steady, closely watching global markets
The Federal Reserve kept interest rates unchanged on Wednesday and said it was “closely monitoring” global economic and financial developments, but maintained an otherwise upbeat view of the US economy. The central bank’s decision was widely expected after a month-long plunge in US and world equities raised concerns that an abrupt global slowdown could act as a drag on US economic growth. ALSO READ: Wall Street turns red after Fed statement “The committee is closely monitoring global economic and financial developments and is assessing their implications for the labor market and inflation,” the Fed’s policy-setting committee said in a statement that diminished the chances of a rate hike at its next meeting in March. Read Full Article Over Here : Business Standard News
