Leah Millis/Reuters
Fed policy-makers said the economy was in good shape as it stands, with ongoing job and economic growth, and an eventual rise in inflation, still “the most likely outcomes” as the U.S. expansion nears its 10-year mark.At its two-day meeting, the Fed also trimmed the amount of interest it pays banks on excess reserves to 2.35 per cent from 2.40 per cent in an effort to ensure its key overnight lending rate, the federal funds rate, remains within the current target band.
Between that and a weaker global economy, the Fed reiterated it would be “patient” in deciding on any further changes to its overnight benchmark lending rate, which it left in a range of 2.25 per cent to 2.50 per cent.
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