The Federal Reserve announced its decision to keep interest rates at 3.75 to 4 percent after its meeting this week. The central bank issued a 0.25 percent rate increase last month. The Federal Open Market Committee (FOMC) noted that inflation “remains elevated,“ but that “Job gains have kept pace with the workforce, and the unemployment rate has changed little.” FOMC stated, “The Committee decided to maintain the target range for the federal funds rate at 3-3/4 to 4 percent, in support of the Federal Reserve’s dual mandate. The Committee is continuing its policy of maintaining ample reserves in the banking system.
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