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US Fed keeps rates unchanged on 'favourable' economic outlook

Amala Balakrishner
Amala Balakrishner12/12/2019 07:53 PM GMT+08  • 2 min read
US Fed keeps rates unchanged on 'favourable' economic outlook
(Dec 12): The US Federal Reserve has voted to keep interest rates unchanged in its final policy meeting for the year.
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(Dec 12): The US Federal Reserve has voted to keep interest rates unchanged in its final policy meeting for the year.

In what was the first unanimous vote since May by the 17-member committee, the benchmark lending rate was left unchanged at its current target range between 1.5 to 1.75%.

“The US economic outlook remains a favourable one despite global developments and ongoing risks,” says Fed Chairman Jerome Powell at the press conference in Washington following the Fed’s open committee meeting on Dec 11.

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