The US Federal Reserve decided on June 17 to maintain interest rates at 3.50%–3.75%. The decision resulted from a unanimous vote by the FOMC.

According to the FOMC’s statement, “productivity and capital investment remain strong, while job gains are keeping pace with the labor force.”

Regarding the unemployment rate in the country, the FOMC noted slight changes in recent months. The Fed also confirmed that it will maintain ample reserves in the banking system, a strategy to provide liquidity.

Despite improvements in some indicators, inflation continues its upward trend and remains above the 2 % target, “driven in part by supply shocks that have raised prices in sectors such as energy.”

The committee stated that the economy “continues to show resilience, although it acknowledged that the international situation adds short-term risks.”

M.Pino

Source: finanzasdigital

(Reference image source: Brandon Mowinkel on Unsplash)

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This Wednesday, the Fed announced through an official statement that the United States will maintain interest rates between 5.25 % and 5.5 %.

The body indicated that “in considering any adjustment to the price of money, the Committee will carefully evaluate the incoming data, the evolution of the outlook and the balance of risks.”

The country’s central bank highlighted a slight decline in inflation over the past year; However, this indicator remains high, so more advances in the matter are required.

In addition, the Fed clarified that it does not consider it appropriate to reduce the target range until there is reliable evidence that inflation “is moving sustainably toward 2 %.”

With respect to economic activity, there are indications that it is maintaining solid expansion. The moderation in job creation does not affect the unemployment rate, which remains downward.

GDP experienced annualized growth of 2.8 % during the second quarter of 2024. For its part, “the personal consumption expenditure price index, the Fed’s preferred statistic to monitor inflation, stood at 2.5 % in June, one tenth less than the previous month. The monthly rate recorded a rebound to 0.1 % from the previous stagnation.”

M.Pino

Source: americaeconomia

(Reference image source: Colin Watts in Unsplash)

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La entrada The Fed keeps interest rates between 5.25 % and 5.5 % apareció primero en Bitfinance.