The U.S. Federal Reserve has decided to keep the federal funds rate unchanged at a range of 4.25 percent to 4.5 percent amid increasing economic uncertainties, according to the minutes of a Federal Open Market Committee (FOMC) meeting, released on Wednesday.
The minutes of the meeting, held on May 6–7, indicated that committee members believe uncertainty surrounding the economic outlook has further intensified.
It noted that the tariff policies implemented under President Donald Trump's administration are exerting downward pressure on both economic growth and employment. At the same time, inflation risks linked to these tariffs are mounting.
Currently, overall inflation remains around 2.3 percent, slightly above the long-term target of 2 percent, the minutes stated.
Meanwhile, many participants pointed out that fluctuating tariff rates have noticeably driven up the prices of goods and services, adding to inflationary pressure that is likely to persist longer than expected.
U.S. Fed holds rates steady amid growing uncertainties
U.S. Fed holds rates steady amid growing uncertainties
U.S. Fed holds rates steady amid growing uncertainties
The United States cannot legitimize an operation that attacked Venezuela and captured its president, a Chinese scholar said Sunday.
On Saturday, the United States launched a large-scale strike on Venezuela, during which Venezuelan President Nicolas Maduro and his wife were 'captured and flown out of Venezuela' according to a post by U.S. President Donald Trump on his Truth Social account.
Teng Jianqun, director of the Center for Diplomatic Studies at Hunan Normal University, said in an interview with China Global Television Network (CGTN) that the aim of this operation is to take full control of Venezuela’s natural resources.
"I don't think the United States can legitimize this operation to take custody of the president of Venezuela. And also I don't think the United States can legitimize its any action in taking the oil reserves of that country. This is actually a very dangerous game played by the Trump administration. And of course, the United States would like to take full control of that country and to take full control of the natural resources, especially the large reserve of oil in Venezuela," said Teng.
Teng said Venezuela is not an isolated case but a common practice by the United States. The United States launched an invasion of Panama on Dec. 20, 1989, which continued until January 1990, with the stated objective of capturing Panamanian strongman Manuel Noriega on charges of drug trafficking and organized crime.
"We still remember the so-called sentence of the former president of Panama in the late 1980s. And this time, the president of Venezuela will be under some judicial condition (judicial proceedings) for the so-called drug trafficking and some other crimes. So I think this is not a single case for the Venezuela country, but also this is actually a practice by the United States -- to use force, to use so-called justice under law against any leaders in Latin America and the Caribbean waters," he said.
US cannot legitimize operation against Venezuela: Chinese scholar
