New Delhi, Feb. 20 -- The Federal Open Market Committee (FOMC) remains focused on its dual mandate of maximum employment and stable inflation at 2 per cent, according to the minutes of the latest meeting.

The Federal Open Market Committee (FOMC) has decided to keep interest rates unchanged, signalling that a rate cut is not imminent.

The Fed maintained the target range for the federal funds rate at 4.25 per cent to 4.50 per cent. Additionally, the Board of Governors voted unanimously to keep the interest rate on reserve balances at 4.4 per cent and the primary credit rate at 4.5 per cent, effective January 30, 2025.

Fed officials however acknowledged that economic activity continues to grow at a solid pace. Consumer spending remains st...