Fewer Federal Reserve officials expect the central bank to raise interest rates more than once this year, as policy makers painted a mixed picture of a U.S. economy where growth is picking up while job gains slow.

Britain's June 23 referendum on membership of the European Union was also "one of the uncertainties that we discussed and that factored into today's decision," Chair Janet Yellen said after the Federal Open Market Committee voted unanimously to leave rates steady at the end of a two-day meeting on Wednesday in Washington.

"It is a decision that could have consequences for economic and financial conditions in global financial markets," she told a press conference following the meeting. "If it does so, it could have consequences in turn for the U.S. economic outlook that would be a factor in deciding on the appropriate path of policy."

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.