The Federal Reserve held interest rates steady on Wednesday in its first meeting since President Donald Trump took office, but painted a relatively upbeat picture of the US economy that suggested it was on track to tighten monetary policy this year.
The US central bank said job gains remained solid, inflation had increased and economic confidence was rising, although it gave no firm signal on the timing of its next rate move.
Fed policymakers are still awaiting clarity on the possible impact of Trump's economic policies. "Measures of consumer and business sentiment
have improved of late," the Fed said in a unanimous statement following a two-day policy meeting in which it left its benchmark interest rate in a range of 0.50 percent to 0.75 percent. The Fed also highlighted that the unemployment rate, currently at 4.7 percent, was still hovering near its recent low.