US Fed keeps rates stable

According to media reports, the US Federal Reserve (Fed) kept its key interest rates steady at 1-1.25%

The decision to keep the rates unchanged was attributed to President Trump’s awaited Fed leadership nominee, which is expected to be announced soon.

However, the US central bank is expected to increase its interest rates by December, according to the economists.

The US economy, meanwhile, showed a solid growth of 3% during the third quarter of the year while the unemployment rate decreased to a 16-year low of 4.2% despite the severe economical impacts of the recent hurricanes which hit the US in August and September.