A News Agency

In a statement, the Fed said the committee aims to achieve maximum employment and 2% inflation in the long term.

The statement noted that uncertainty about the economic outlook has increased: “The Committee is attentive to the risks on both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have increased.”

It was stated that the Committee decided to maintain the target range for the federal funds rate at 4.25% to 4.50% to support its goals:

“In assessing the extent and timing of further adjustments to the target range, the Committee will carefully consider incoming data, the evolving outlook, and the balance of risks. The Committee will continue reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities. The Committee remains strongly committed to supporting maximum employment and returning inflation to its 2% goal.”