FILE- The seal of the Board of Governors of the United States Federal Reserve System is displayed in the ground at the Marriner S. Eccles Federal Reserve Board Building in Washington, Feb. 5, 2018. Since Federal Reserve officials last met in July, the economy has moved in the direction they hoped to see: Inflation continues to ease, if more slowly than before, while growth remains solid and the job market cools.
Besides forecasting another hike by year’s end, their projections showed they envision keeping rates high deep into 2024. They expect to cut interest rates just two times in 2024, down from four rate cuts they had envisioned back in June. The more measured approach to rate increases the Fed is now taking reflects an awareness among the officials that the risks to the economy of raising rates too high is growing. Previously, they had focused more on the risks of not doing enough to slow inflation.WASHINGTON — The Federal Reserve is set to leave its key interest rate unchanged Wednesday as it seeks to guide the U.S.
Further clues about the future path of the Fed's interest rate policy could emerge at a news conference Powell will hold after the central bank issues a policy statement and its quarterly economic projections.
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