The Federal Reserve of the United States (Fed) has decided to keep the key interest rate unchanged, thus halting the recent series of cuts to the cost of money.

The Federal Reserve (Fed) voted to halt the reduction of the benchmark interest rate, maintaining it in the range of 3.5%–3.75%. This decision comes in the context of increasing political pressures and the transition to a new central bank president. The Fed has improved its assessment of economic growth and tempered concerns related to the labor market, which were considered a greater risk than inflation. It also removed the clause suggesting an increased risk of labor market weakening, indicating a better balance between inflation and employment. Although no clear hints were given about the next steps, the markets anticipate a possible interest rate adjustment only in June.