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The Federal Reserve announced it will not cut rates today, maintaining the target range for the federal funds rate at 4.25% to 4.5%.

“In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks,” the Fed said in a statement, referring to its policy making Federal Open Market Committee. The decision was based on the Committee determining “that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate.”

The central bank added it “will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2% objective.”

The decision to hold rates came in a unanimous vote.