Federal Reserve Holds Interest Rates Steady Amid Ongoing Uncertainty

The US Federal Reserve maintained its target range for the federal funds rate at 3.5% to 3.75%. The decision was made during a scheduled Federal Open Market Committee meeting on July 29th.

Economic activity has been expanding, driven by strong productivity and capital investment, despite ongoing uncertainty from the Middle East conflict. Job growth is keeping pace with workforce expansion, resulting in a relatively stable unemployment rate.