The move marks a significant pivot in US monetary policy and a recognition of the Fed's growing comfort with inflation continuing to ease to its target. It is currently about half a percentage point above it.
"The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks," the Fed said in a statement.
The PCE price index rose at an annual rate of 2.7 percent in March, up 0.2 percentage points from a month earlier
The US Federal Reserve voted Wednesday to keep interest rates at a 23-year high for a fifth consecutive meeting, while signaling it still expects to make three cuts this year
The Federal Reserve System (Fed), the arbiter of monetary policy in the US, is facing a number of challenges
The Federal Reserve's dovish December pivot has boosted the case for the weakening dollar to keep falling into 2024
The US Federal Reserve is widely expected to hold interest rates at a 22-year high for a third consecutive meeting on Wednesday as it continues to fight elevated inflation.
What happened to the 40-year-old bank that was so highly regarded among all stakeholders in America’s tech sector?
Investors are gauging whether the US Federal Reserve has reached the peak of its aggressiveness in hiking rates, with some saying they're ready to up risky positions again.
The Federal Reserve Bank of New York will be sued following the hacking of around $100 million (Tk 780 crore) from foreign currency account of Bangladesh Bank, Finance Minister AMA Muhith tells journalists at his finance ministry office.
The 2015 Nobel season wraps up with the announcement of the winner of the economics prize, which could go to research into the job market or consumer behaviour, though no obvious frontrunner stands out.