This is a developing story about the Federal Reserve’s March interest rate cut decision. Please check back for updates.
The Federal Reserve on Wednesday announced it will leave interest rates unchanged, amid a softening labor market and growing uncertainty over the war in Iran.
Fed policymakers voted to leave the benchmark federal funds rate unchanged at its current range of 3.5% to 3.75%. The move follows the central bank’s decision to hold rates steady in January after three successive 25-basis-point rate cuts in September, October and December to close out last year.
Economic data showing a slowdown in the labor market, inflation continuing to run hotter than the Fed’s 2% target and the unrest in Iran prompted policymakers to continue to pause rate cuts.
