Fed Keeps Interest Rates Unchanged Amid Concern for Below-Target Inflation

Federal Reserve Board chairman Jerome Powell speaks during a news conference in Washington on May 1, 2019. Mark Wilson/Getty Images

The Federal Reserve’s interest rate-setting body decided Wednesday to keep the benchmark Federal Funds target rate unchanged within the 1.5 to 1.75 percent range.

Members of the Federal Open Market Committee (FOMC) met on Jan. 28-29 to consider economic data before issuing a policy decision on an interest rate hold, cut, or hike.