Fed keeps interest rates on hold amid 'favorable' economic outlook

WASHINGTON - The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs are likely to remain unchanged indefinitely, with moderate economic growth and low unemployment expected to continue through next year’s presidential election.

New economic projections released by the Fed showed a solid majority of 13 of 17 policymakers foresee no change in interest rates until at least 2021. The other four saw a single rate hike next year, a view at odds with investors’ expectations for a single rate cut. Overall, policymakers see the unemployment rate, currently 3.5%, staying below their estimate of a sustainable level in the long run for another three years, even as most expect inflation by then to end up at, or just a little above, the 2% target, the new projections showed.

U.S. stocks rallied modestly after the decision, which had been widely anticipated by investors. The benchmark S&P 500index, which was largely flat when the Fed announced its policy decision, closed up about 0.3%.

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Shhhh! While no one is looking (ie Circus on the Hill)... we’ll just keep rates right where they are. trump winning. FederalReserve KAG2020

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