The Federal Reserve left interest rates unchanged on Wednesday and reiterated plans to hold rates steady, noting there has been a lack of further progress on inflation returning to its 2% target.
In a policy statement, Fed officials said “In recent months, there has been a lack of further progress towards the committee’s 2% inflation objective.” Officials reiterated that they need to gain greater confidence before lowering rates. The central bank will reinvest any principal payments in excess of this cap into Treasury securities.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks open lower ahead of Fed's rate decision on WednesdayUS stock market indexes (^DJI, ^IXIC, ^GSPC) open Tuesday's session lower as equities are listening closely to the Federal Reserve's interest rate decision...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Fed’s Jefferson Sees Steady Fed Rate Helping to Push Down InflationFederal Reserve Vice Chair Philip Jefferson said he expects inflation will continue to moderate with interest rates at their current level but persistent price pressures would warrant holding borrowing costs high for longer.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Fed still likely to cut mid-year: Former Fed Vice ChairThe debate continues as to when the Federal Reserve will cut interest rates, breaking their higher for longer stance. Many experts believe three cuts will...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Fed: What higher interest rates mean for your moneyChances are the Federal Reserve will likely hold interest rates where they are coming out of its May FOMC meeting today as Wall Street's hope for 2024 rate...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »