US Fed Reserve holds rates, doesn’t provide specifics on future cuts

The US Federal Reserve has left the interest rate target unchanged but withheld specific details on rate cuts, according to CommSec’s Craig James. The US rate target remains at 5.25-5.5 per cent. Mr James said the Federal Reserve didn’t provide any “specific guidance” on future rate cuts. “Saying they want more confidence that inflation is returning to 2 per cent,” he told Sky News Australia. Presented by CommSec.