Mubasher: The United States Federal Reserve Open Market Committee (FOMC) has decided to maintain interest rates in the range of 2.25% to 2.5%.

The Fed said that his patience policy regarding interest rates was over, according to MarketWatch.

“The FOMC will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion,” the Fed added in a statement.

Fed officials were divided between cutting and maintaining the rates in 2019.

Moreover, Fed officials downgraded inflation expectations, ruling out the possibility of achieving 2% targeted inflation rate until 2021.

Officials kept their GDP growth forecasts at 2.1% in 2019, 2% in 2020, and 1.8% in 2021.