“US Federal Reserve Raises Fed Funds Rate Target and Considers Pause in Rate Hike Campaign”

NEW YORK, May 3 (Reuters) – The U.S. Federal Reserve (Fed) said on Wednesday it was raising the fed funds rate target to 5%-5.25%, as expected, and paved the way to a pause in its rate hike campaign.

The decision was taken unanimously, the US central bank said in a statement after its two-day monetary policy meeting. (Written by Jean Terzian, edited by Nicolas Delame)