US Fed keeps rates unchanged, still expects only 'gradual' rate hikes

The US Federal Reserve on Wednesday kept the benchmark interest rate unchanged in its first policy meeting since President Donald Trump took office, and said it still expects it will need only gradual rate increases. While noting continued economic growth, solid job gains and improving business and consumer confidence, the central bank statement gave no hint of concern that the Trump administration's spending or tax policies might create pressure to hike rates faster. "The committee expects that