Fed Policy Announcement
The Federal Open Market Committee voted to keep the benchmark interest rate unchanged at 5.25-5.50 percent. Committee members indicated they expect to maintain restrictive policy until inflation shows sustained movement toward the 2 percent target. The Fed chair noted the economy remains resilient despite signs of slowing growth.
Market Performance
Asian markets declined with Japan's Nikkei falling 1.2 percent and Hong Kong's Hang Seng dropping 0.8 percent. European markets opened cautiously higher, with Germany's DAX up 0.3 percent. US futures pointed to a flat opening as investors await additional economic data.
Economic Indicators
Recent inflation data showed consumer prices rose 3.1 percent year-over-year in April, slightly above expectations. Unemployment remains at 3.9 percent, indicating continued labor market strength. Retail sales growth slowed to 0.2 percent last month, suggesting consumer spending moderation.