Jerome Powell, Chairman of US Federal Reserve paused the benchmark borrowing rates at 5.25 % - 5.5 % for the fourth consecutive month

The last time they were hiked was in July 2023, by 25 basis points

Jerome Powell said that the Federal Reserve is not considering reducing the interest rate for now

This gives policymakers enough time to assess additional information and its implications for monetary policy

According to US Fed, Federal Open Market Committee (FOMC) is extremely worried about inflation risks

US Fed is uncertain about the effects of is decision on economic activity, hiring, and inflation

The Fed however states that the US banking system is sound and resilient

Recent data shows strong Q3 economic growth; job gains steady, low unemployment

The FOMC will monitor data to assess monetary policy stance

Powel remarked that the US Central Bank is monitoring a rise in long-term yields