Fed keeps key interest rate steady but sees fewer risks

WASHINGTON (AP) – The Federal Reserve is keeping interest rates unchanged while noting that near-term risks to the economy have diminished.

The Fed says that the U.S. job market has rebounded, with strong job gains in June following weak growth in May. But it says in a statement after its latest policy meeting that it still plans to monitor global economic threats and financial developments to ensure they don’t slow the economy.

The central bank gave no hint of when it might resume the rate hikes it began in December, when it raised its benchmark rate from a record low.

Some economists think a hike is possible in September, if hiring remains solid and the turbulence that followed Britain’s vote to leave the European Union continues to stabilize.

Get breaking news, weather, and traffic on the go. Download ABC 27 News for iPhone here or ABC 27 News for Android here.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s