Fed Upgrades US Economy View, Leaves Rates Unchanged

The Federal Reserve's Federal Open Market Committee (FOMC) met in June to assess the state of the US economy. Since then, information has shown that job gains have been strong and the unemployment rate remains low.

Economic activity is rising at a high rate, with household spending and business fixed investment growing strongly. Inflation for items other than food and energy also remains near 2% on a 12-month basis.

The FOMC decided to leave interest rates unchanged, keeping the target range at 1.75% to 2%. However, their view of the US economy has been upgraded, indicating a strong and rising trend.