WASHINGTON: The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs will not change anytime soon, with moderate economic growth and historically low unemployment expected to persist through the 2020 presidential election.
In its final policy meeting of a tumultuous year, when it was spurred to cut interest rates three times to forestall a slowdown fueled largely by President Donald Trump's trade war, the U.S. central bank struck a remarkably sanguine tone, confident the actions it had taken so far are working.