The US Federal Reserve System, acting as the country’s central bank, at its first meeting in 2021, kept its base interest rate at 0-0.25 percent, as expected by the market, Report informs, referring to the financial regulator.
The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time, reads the statement.