Fed leaves low rates alone and foresees no moves in 2020

(AP) – The Federal Reserve left its benchmark interest rate alone Wednesday and signaled that it expects to keep low rates unchanged through next year.

Federal Reserve Chair Jerome Powell arrives to speak at a news conference after the Federal Open Market Committee meeting, Wednesday, Dec. 11, 2019, in Washington. The Federal Reserve is leaving its benchmark interest rate alone and signaling that it expects to keep low rates unchanged through next year. (AP Photo/Jacquelyn Martin)

The Federal Reserve’s decision to leave interest rates alone follows three rate cuts this year.

It reflects its view that the U.S. economy has so far withstood the U.S.-China trade war and a global slump and remains generally healthy.

The Fed’s benchmark rate influences many consumer and business loans.

It will remain in a low range of 1.5% to 1.75%. The Fed’s latest policy statement dropped a phrase it had previously used that referred to “uncertainties” surrounding the economic outlook.

That suggests that the Fed may be less worried about the impact of the U.S.-China trade war or overseas developments.

Copyright 2019 Associated Press. All rights reserved.

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