It also eased its concerns about the labor market as compared with inflation. Meeting market expectations , the central bank's Federal Open Market Committee voted to keep its key interest rate in a range between 3.5%-3.75%. The decision put a halt to three consecutive quarter percentage point reductions, billed as maintenance moves to guard against potential downturns in the labor market. "Inflation performed about as expected, and ... some of the labor market data came in suggesting evidence of stabilization. At the same time, hiring is slow in the labor market amid a Trump administration crackdown on illegal immigration.