Key Points
The US Federal Reserve emphasized that inflation has remained stubbornly high in recent months and said it doesnt plan to cut interest rates until it has greater confidence that price increases are slowing sustainably to its 2% target..
The decision was taken unanimously as the Fed would keep the benchmark lending rate unchanged at 5.25-5.50 per cent, it said...
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC.(Reuters) Read more: Google's Sundar Pichai is a stones throw away from becoming a billionaire..
Inflation has cooled from a peak of 7.1%, as per the US Feds preferred measure, to 2.7%, it said.. Read more: Google outage: Users get 502 error, report issues with search engine in UK, USWhat else did US Federal Reserve announce?..
What US Federal Reserve had said earlier on rate cuts?Read more: Google employee's shocking ordeal: Fired for watching protests for just 'four minutes'..
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