FOMC Leaves Interest Rates Unchanged Sees Economy Expanding As Expected FOMC Leaves Interest Rates Unchanged Sees Economy Expanding At Moderate Pace
By Kitco News
Wednesday March 16, 2016 14:03
(Kitco News) - Although the Federal Open Market Committee left interest rates unchanged they have left the door open to hikes later in the year, despite downgrading their economic projections.
The central bank’s decision to leave interest rates unchanged in its range between 0.25 and 0.50% was widely expected by the market and economist.
In the statement the central bank was fairly more optimistic on the U.S. economy, downplaying the impact global market volatility has had on U.S. growth.
The statement said: “economic activity has been expanding at a moderate pace despite the global economic and financial developments of recent months.”
By Neils Christensen of Kitco News; nchristensen@kitco.com
Follow Neils Christensen @neils_C
