US Federal Reserve keeps rates steady despite softer inflation data

BUSINESS © FRANCE 24

The US Federal Reserve has decided to keep its lending rate unchanged at the current 5.25-5.50 percent range and projected just one rate cut this year, despite soft inflation data. But first, the European Commission has informed China that it will impose new tariffs of up to 38 percent on Chinese-made electric cars from July 4 unless a solution is found. This comes following months of investigation into Chinese subsidies.