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Added on the 19/12/2018 13:06:25 - Copyright : Wochit
The US Federal Reserve has voted to hold interest rates at a 22-year high for a second straight meeting. "Today we decided to leave our policy interest rate unchanged," announces Fed chair Jerome Powell. SOUNDBITE
US Federal Reserve Chair Jerome Powell announces that the US Federal Reserve has voted to keep interest rates at a 22-year high, between 5.25 percent and 5.50 percent. SOUNDBITE
The US Federal Reserve raises its benchmark lending rate to the highest level since 2001 to tackle above-target inflation, and signaled the possibility of further increases ahead. SOUNDBITE
Fed Chair Jerome Powell announces a quarter-point raise in the US Federal Reserve's benchmark lending rate, "in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to two percent over time." SOUNDBITE
A majority of officials on the US Federal Reserve's Federal Open Market Committee (FOMC), which is tasked with setting policies, now predicts an interest rate increase in 2023. "We continue to expect that it will be appropriate to maintain the current 0 to .25 percent target range for the federal funds rate until labor market conditions have reached levels consistent with the committees' assessment of maximum employment, and inflation has risen to 2 percent, and is on track to moderately exceed 2 percent for some time," US Federal Reserve Chair Jerome Powell says in Washington. SOUNDBITE