On 30 January, the US Federal Reserve left the US lending rate unchanged, and added that it would be “patient” about making any further changes. This marks the clearest signal yet that the central bank has heard the concerns by many, both in the US and around the world, about the economy. Mr Jerome Powell, Chairman of the US Federal Reserve also noted the low inflation rate and said that the case for raising interest rates has weakened somewhat.
The Fed also noted the growing uncertainty about the outlook of the economy, but largely expects that the continued expansion of the economy and strong job growth numbers are the “most likely outcomes”.
The US Bureau of Labor Statistics reported that the US economy added 304,000 jobs in January 2019, up from a revised estimate of 222,000 in December. This also marked the 100th straight month of job growth.