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Fed Keeps Rates Unchanged at 1958 Lows WASHINGTON (Reuters) March 16- The U.S. Federal Reserve opted on Tuesday to keep interest rates unchanged at 1958 lows and said new hiring has lagged despite a slowing in layoffs. The unanimous decision by the rate-setting Federal Open Market Committee keeps the trend-setting federal funds rate for overnight loans between banks at 1 percent, a level hit after a cut last June. In its post-meeting statement, the U.S. central bank said risks to economic growth were roughly equal and repeated that chances of a drop in prices were about the same as an inflation pickup -- a position it adopted in December. The FOMC also repeated it could afford to be "patient" about raising rates, implying that policy-makers feel scant pressure to boost credit costs despite a strengthening economy because inflation remains muted and job growth is anemic.
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