That means annual inflation is again hovering at the 2 per cent Fed target last touched briefly in February 2017
Recent swings in long-term US money market rates are part of their adjustments to structural changes post-financial crisis in addition to the Fed's current normalisation of monetary policy
Investment bank Goldman Sachs predicts the Fed will raise rates four times in 2019
The US Fed started slowing down on asset purchases starting October 2017
Fed officials say they may need a better strategy going forward to give them more power to address future recessions
New tariffs could create headaches for the Fed, which is tasked with fostering stable prices and full employment
"Honestly, I like 'em all," Trump told reporters when asked if he had a favourite from among the five
Many policymakers still felt that another rate increase this year 'was likely to be warranted,' the Fed said
The Fed has been buoyed by strong US employment and continued economic growth
Fed funds futures now price in about a 75% chance of the rate increase in its June policy meeting
About 7.3 bn shares changed hands in US exchanges, above 6.6 bn daily average over past 20 sessions
A look at the pivotal moments of rate changes in the last 40 years
Rate increase would push Fed's target overnight lending rate to a range of between 0.75% and 1%
This semiannual report on monetary policy is Yellen's first since Trump became US president
Investors seek to determine likely timing of further hikes as US shows signs of recovery
With Trump planning tax cuts, central bank shifts outlook to one of faster growth, lower unemployment and inflation
The Fed has positioned itself for a likely interest rate increase in December
The Federal Reserve meets next week and the US government releases an important report on jobs
The race between Democrat Hillary Clinton and Republican Donald Trump of late has provided market-moving surprises
The US economy needs to create just under 100,000 jobs a month to keep up with population growth