US ECON­OMY / FED LEAVES KEY RATE UN­CHANGED

Sun.Star Cebu - - BUSINESS -

The Fed­eral Re­serve has left its key pol­icy rate un­changed but sig­naled that it plans to keep re­spond­ing to the strong US econ­omy with more in­ter­est rate hikes. The next rate in­crease is ex­pected in De­cem­ber. The Fed kept its bench­mark rate in a range of two per­cent to 2.25 per­cent. A state­ment it is­sued on Thurs­day, Nov. 8, af­ter its lat­est pol­icy meet­ing por­trayed the econ­omy as ro­bust, with healthy job growth, low un­em­ploy­ment, solid con­sumer spend­ing and in­fla­tion near the Fed’s two per­cent tar­get. De­spite a US trade war with key na­tions, weaker cor­po­rate in­vest­ment and a slug­gish hous­ing mar­ket, the Fed is show­ing con­fi­dence in the econ­omy’s re­silience. To help con­trol in­fla­tion, it has pro­jected three rate in­creases in 2019 af­ter an ex­pected fourth hike of the year next month. /

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