Fed Reserve leaves interest rates unchanged at 5%; sees modest growth amid inflation
FOMC observes the country’s banking system is sound and resilient
By News Desk
Published - Jun 16, 2023, 02:42 PM ET
Last Updated - Jul 18, 2023, 03:09 PM EDT
The Federal Reserve Wednesday kept the interest rates unchanged at 5 to 5-1/4 percent and decided to continue reducing its holdings of securities.
The Federal Open Market Committee (FOMC) observed at its June meeting that the U.S. economy was growing modestly, with strong job gains amid high inflation.
Banking system
The Federal Reserve said in a press release that the country’s banking system is sound and resilient.
