The Fed keeps interest rates unchanged
Mar 21, 2019| The US Federal Reserve not only decided not to raise interest rates on Wednesday, but also hinted that it will not raise interest rates again this year.
The Federal Open Market Committee, the Fed's policy-making body, has seen a significant dovish shift compared to the policy forecast three months ago.
Members of the committee estimated in December last year that after raising interest rates four times in 2018, it would be appropriate to raise interest rates twice in 2019. They also pointed out that there was at least one tightening before ending a round of austerity policies that began in December 2015.
However, unless there is a major change in the situation, it seems unlikely that it will raise interest rates. The FOMC stated in the post-meeting statement that it will remain "patient" until any further rate hikes are taken.
The Fed currently maintains the benchmark fund rate at the 2.25% - 2.5% range. This interest rate is used as the key to determining interest on most adjustable-rate consumer debt, such as credit cards and home equity loans.