decision
Washington (AFP) - The US Federal Reserve voted Wednesday to pause its aggressive campaign of interest rate hikes despite "elevated" inflation, while indicating a sharp increase could be needed before the end of the year. "It allows the economy a little more time to adapt as we make our decisions going forward," Fed chair Jerome Powell said in a press conference after the decision was announced. After 10 straight increases, the Fed's rate-setting committee voted to hold its benchmark lending rate between 5.0 percent and 5.25 percent, the central bank said in a statement. The widely-expected de...
AFP
Washington (AFP) - The US Federal Reserve on Tuesday kicked off a two-day meeting to set its benchmark lending rate, with fresh signs of cooling inflation increasing the chance it will pause its aggressive cycle of rate hikes. The Fed has raised interest rates 10 times in quick succession since March 2022 as it grapples with inflation which remains well above its two percent long-term target. A number of officials on the central bank's rate-setting committee have indicated they are minded to skip a hike this month to give policymakers more time to assess the economic impact of recent banking ...
AFP
Washington (AFP) - The US Federal Reserve is widely expected to pause its campaign of interest rate increases on Wednesday to give policymakers more time to assess the economic impact of existing hikes and recent banking stresses. But members of the rate-setting Federal Open Market Committee (FOMC) remain divided going into the meeting on June 13-14, with a minority still pushing for an 11th straight hike to fight inflation, which remains stubbornly above the Fed's long-term target of two percent. The Fed has raised its benchmark lending rate by five percentage points since March last year, l...
AFP
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