Fed keeps rates on hold at 2pc

It referred to both "the upside risks of inflation", as well as the "downside risks to growth," illustrating the Fed's current dilemma. Commenting, Neil Michael, head of quantitative strategies for SPA ETF, said: "The decision by the Fed to keep interest rates on hold at 2pc was not wholly unexpected, despite continued bad news from further job losses and the threat of falling into an extended recession. "The Fed is well aware that confidence in the US economy is still fragile - the well-documented credit crunch has certainly slowed US economic growth - but the latest figures show the...