US Federal Reserve Keeps Interest Rates Unchanged for the Fifth Consecutive Time

The US Federal Reserve kept interest rates unchanged for the fifth consecutive time, at 4.25%-4.5%.

According to the bank’s statement, inflation remains elevated and the commitment to reducing it to 2% over the long term remains intact. It also emphasized close monitoring of economic risks and a readiness to adjust monetary policy if necessary.

Two governors at the bank proposed keeping US interest rates steady and voted for a quarter-percentage-point cut, while one member was absent from the vote.

This is the first time since 1993 that more than one governor has cast a negative vote on an interest rate decision.

This decision comes amid mounting pressure from the White House, where US President Donald Trump continues to call for interest rate cuts, arguing that the US economy is strong enough to justify lower borrowing costs.