Federal Reserve Keeps Rate Steady, Offers Few Future Clues

By Jeffry Bartash Markets MarketWatch Pulse

The Federal Reserve on Wednesday left interest rates unchanged, offering few clues on its next move in the early days of the Trump administration. The vote was 10-0 to stand pat. The central bank said the economy "continued to expand at a moderate pace" and that job gains "remained solid." While inflation has increased in recent quarters, the Fed noted, it was still below the bank's long-run 2% target. By and large, the bank stuck closely to the language in its December statement, seeing little change in the U.S. economy compared to the end of 2016.

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