Federal Reserve Leaves Rates Unchanged As Powell Addresses #Coronavirus Impact․ #Forbes

In a widely expected move on Wednesday, the Federal Reserve left interest rates unchanged in the 1.5% to 1.75% range, while also indicating that changes to monetary policy would stay on hold for the time being—even as some Wall Street investors grow increasingly worried about the fast-spreading coronavirus from China.

In a unanimous decision, Fed board members voted to leave the benchmark interest rate steady for the time being, continuing the wait-and-see approach that was initialized last October when the Fed paused its monetary easing cycle.
“Some of the uncertainties around trade have diminished recently, and there are some signs that slowing global economic growth is improving,” Fed Chair Jerome Powell said in a press conference after the meeting.
Powell confirmed that the central bank would remain on the sidelines as it keeps an eye on economic developments and assesses the appropriate path of monetary policy moving forward.