U.S. Fed holds interest rates steady

The U.S. Federal Reserve held interest rates steady but signaled possible rate cuts of as much as half a percentage point over the remainder of this year, as it responded to increased economic uncertainty and a drop in expected inflation.

Central bank officials on the Federal Open Market Committee voted 9-1 to keep the benchmark rate in a target range of 2.25% to 2.5%, where it has been since December’s controversial quarter-point increase, CNBC reported.