Fed Keeps Interest Rates Steady Amid Global Uncertainty

The Federal Reserve (Fed) has announced that it will keep its benchmark interest rates unchanged at 3.5%-3.75% for now.

This decision was widely expected by economists and financial experts.

In a statement, the Fed noted that 'economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East.'

The agency highlighted strong productivity growth, capital investment, and job gains that have kept pace with the workforce, as well as an unchanged unemployment rate.