Fed leaves key interest rate unchanged, noting jobs slowdown
WASHINGTON - The Federal Reserve is keeping interest rates unchanged in light of an uncertain job market, while offering no specifics about when its next rate hike might occur.
The Fed says in a statement after its latest policy meeting that the pace of job growth has slowed, even as the overall economy has picked up speed.
The Fed indicates it needs a clearer picture of economic developments before raising rates again. It notes that effects of a slowdown in exports have lessened.
The Fed raised its benchmark rate in December from record lows to a range of 0.25 percent to 0.50 percent. Some economists think a July hike is possible if the job market rebounds and markets remain calm after Britain's vote next week on whether to leave the European Union.