U.S. Fed holds interest rate at 3.5-3.75%

The Federal Open Market Committee (FOMC) said the decision was adopted by majority vote - nine members supported keeping the rate unchanged, while three opposed.

According to the Federal Reserve, the U.S. economy continues to show resilient growth despite heightened uncertainty, partly linked to the conflict in the Middle East. 

"Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East. Productivity growth and capital investment are strong. Job gains have kept pace with the workforce, and the unemployment rate has changed little," a statement reads.

At the same time, the regulator stressed that inflation still exceeds the 2% target, "in part reflecting supply shocks that have driven price increases in certain sectors, including energy."

"The Committee will deliver price stability," the Federal Reserve says.

Voting against the monetary policy action were Beth M. Hammack, Neel Kashkari, and Lorie K. Logan, who preferred to raise the target range for the federal funds rate by 0.25% at this meeting.

Earlier, it was reported that the U.S. imposed new tariffs on 60 trading partners.