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Urgent: U.S. Fed leaves interest rates unchanged amid slower economic growth

Xinhua, May 3, 2017 Adjust font size:

The U.S. Federal Reserve on Wednesday left its benchmark interest rates unchanged as the central bank waited on more data to assess the U.S. economic outlook.

"The Committee views the slowing in growth during the first quarter as likely to be transitory and continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace," the Fed's policy-making committee said in a statement released after its two-day meeting.

The U.S. economy grew at an annual rate of 0.7 percent in the first quarter of this year, lower than the 2.1 percent growth in the previous quarter and the weakest performance in three years, the Commerce Department said Last week. Enditem