US Fed keeps policy interest rate steady at 1.5-1.75%

Washington (AFP) – The Federal Reserve kept the key lending rate unchanged on Wednesday but said it will turn its sights to low inflation and developments in the world economy.

At its final meeting of 2019, the Fed’s policy-setting Federal Open Market Committee left the benchmark interest rate in the target range of 1.5-1.75 percent, as expected, where it has been since the third rate cut of the year in October. 

The vote this time was unanimous, following several meetings where one or more FOMC members disagreed with the majority.