India, March 20 -- The US Federal Reserve kept its benchmark interest rate unchanged on Wednesday and signalled that it still expects to cut rates twice this year, though it said the outlook is more uncertain. The Fed also now expects the economy to grow more slowly this year. It also expects the unemployment rate to tick higher, to 4.4%, by the end of this year. Policymakers also expect inflation will pick up slightly this year, to 2.7% from its current level of 2.5%. Both are above the central bank's 2% target.AP
Published by HT Digital Content Services with permission from Hindustan Times....