(File photo, AP)WASHINGTON - The Federal Reserve is keeping its benchmark interest rate unchanged at a time of low inflation, which remains persistently below the Fed's target level. The Fed noted Wednesday in a statement that inflation has stayed undesirably low even though the job market keeps strengthening, with the unemployment rate just 4.4%. But the Fed's preferred gauge of inflation has moved further below its 2% target in recent months. Over the past 12 months, the inflation gauge the Fed monitors most closely has risen just 1.4%, according to the latest data. Even now, the rate remains historically low and significantly below the 3% level that the Fed sees as "neutral."

Source: Bangkok Post July 26, 2017 18:13 UTC