Washington • The Federal Reserve left its benchmark interest rate alone Wednesday and signaled that it expects to keep low rates unchanged through next year.
The Fed's decision follows three rate cuts earlier this year and 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. Its benchmark rate —which influences many consumer and business loans — will remain in a low range of 1.5% to 1.75%.
In a sign of its confidence about the economy, the Fed's latest policy statement dropped a phrase it had previously used that referred to "uncertainties" surrounding the economic outlook.