The US central bank left interest rates unchanged and signalled it would keep them on hold through 2020 amid a solid economy.
The Federal Reserve left interest rates unchanged and signalled it would keep them on hold through 2020 amid a solid economy, sticking to the sidelines during an election year.
Policy makers had been widely expected to leave the target range for the federal funds rate at 1.5 per cent to 1.75 per cent after three straight cuts that helped calm concerns the economy could falter. Officials forecast their policy remains supportive of growth in coming years even with the US and China yet to reach a trade deal, Brexit's future in question ahead of Thursday's UK election and a lacklustre global economic picture.
Economic growth was seen at 2 per cent in 2020 and 1.9 per cent in 2021, both unchanged from the last estimates.Powell will mark his second anniversary as Fed chairman in February. He has endured a barrage of attacks from President Donald Trump, who picked him for the job but has labelled Fed policies "ridiculous'' and "pathetic'' and called for steeper rate cuts.
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