The Federal Reserve on Wednesday held its benchmark interest rate steady, while upgrading its view of the U.S. economy. The central bank said it would maintain the federal funds rate in a range of 5.25% to 5.5%, the same level as it announced two meetings ago, in July. The Fed has sought to douse the hottest inflation in four decades by curbing demand for homes and autos, with price increases moderating this year.
'By leaving rates unchanged while continuing to flag the possibility of further tightening to come, the Fed indicated today that it remains in 'wait and see' mode,' Andrew Hunter, deputy chief U.S. economist with Capital Economics, told investors in a research note. 'But we suspect the data over the coming weeks will see the case for a final hike continue to erode, with the Fed likely to start cutting rates again in the first half of next year.
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:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal Reserve expected to leave interest rates unchanged despite stubborn inflationA surging economy has complicated the fight to cool price increases.
Source: ABC - 🏆 471. / 51 Read more »
Live updates: Markets await latest Federal Reserve decision on ratesThe Federal Reserve is set to make an announcement on rates at 2 pm ET. Markets are expecting another pause in the central bank's rate-hiking campaign as the economy continues to absorb the effects of higher borrowing costs.
Source: CNN - 🏆 4. / 95 Read more »
Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelinesThe Federal Reserve is poised to leave its key interest rate unchanged at a time when the Fed faces an economy that has proved resilient but is nevertheless under pressure from surging interest rates, overseas turmoil and anxious investors. U.S.
Source: AP - 🏆 728. / 51 Read more »
Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelinesThe Federal Reserve is poised to leave its key interest rate unchanged at a time when the Fed faces an economy that has proved resilient but is nevertheless under pressure from surging interest rates, overseas turmoil and anxious investors.
Source: wjxt4 - 🏆 246. / 63 Read more »