The Federal Reserve voted unanimously to keep interest rates unchanged at 1.25 to 1.5%. The FMOC noted that the labor market has continued to strengthen and economic activity has been rising at a solid rate.
In view of realized and expected labor market conditions and inflation, the committee decided to maintain the target range for the federal funds rate.
In a related news report, the Washington Post noted that the move may have been influenced by the fact that current Fed Chair Janet Yellen will be replaced by Jerome Powell this week. The Post said that signs point to an interest rate hike in March.
