TheStreet
M. Corey Goldman

The Federal Reserve opted to leave benchmark interest rates unchanged, as expected, at the conclusion of its two-day meeting on Wednesday as officials continue to monitor for signs that last year's interest rate cuts are beginning to have an effect.

However, it is keeping a weary eye on developments overseas, particularly the spread of the coronavirus and its impact on global economic growth.

In a unanimous decision, the Fed's interest rate-setting policy committee, called the Federal Open Market Committee, opted to leave the benchmark fed funds rate unchanged in a range of between 1.5% and 1.75%. Read more.