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1/14, 7:38 PM (Source: TeleTrader)
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Fed's George: Keeping rates on hold is appropriate

Kansas City Fed Bank President Esther George said on Tuesday that the United States Federal Reserve was right when decided to keep interest rates unchanged. She said that "keeping rates on hold, for now, is appropriate in my view as we assess the economy’s response to last year’s rate cuts and monitor incoming data."

George added that the expansion will continue "supported by solid growth in consumer spending, with continued weakness in manufacturing and business spending."

Last month the Federal Open Market Committee decided to keep interest rates unchanged, after lowering them three times in 2019. The target range for the federal funds rate remained at 1.50%-1.75%, as appropriate to support the sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective.

Breaking the News / TF