US Federal Reserve Holds Key Interest Rate Steady for Third Consecutive Time

The United States Federal Reserve (Fed) has kept its key interest rate unchanged for the third time, maintaining it at 4.25–4.5% per annum, according to an official statement.

«Unemployment has remained low and stable in recent months, while labour market conditions continue to be solid. However, inflation remains somewhat elevated,» the Fed noted in the statement.

Experts surveyed by Reuters believe that the Fed may move towards cutting rates later this year. However, analysts at Barclays expect the regulator to hold rates steady until at least July.

US President Donald Trump has previously voiced dissatisfaction with the Fed’s approach. He criticised Chair Jerome Powell for repeatedly raising rates, which he claimed had frustrated the White House.

There were also rumours suggesting Trump intended to dismiss Powell. However, the president later denied such reports.