US Fed keeps its federal funds rate unchanged

The United States Federal Reserve kept its federal funds rate unchanged amid recent weak economic data and tepid inflation.The Fed said in a statement released yesterday after the two day policy meeting. The Fed raised its target range for the federal funds rate by 25 basis points to



0.25-0.5 percent in December last year, the first rate hike in nearly a decade. 

However, a slowdown in global economy since the start of this year and other global financial risks have made Fed policymakers cautious to hold off on any further rate hikes.