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Washington (AFP) - The US Federal Reserve voted Wednesday to keep interest rates at a 23-year high for a fifth consecutive meeting, while signaling it still expects to make three cuts this year. The news sent US markets higher, as traders cheered the central bank's affirmation that three cuts are likely despite a recent uptick in monthly inflation. All three major indices on Wall Street closed at new records. The Fed's unanimous decision to hold its key lending rate between 5.25 percent and 5.50 percent lets policymakers "carefully assess incoming data, the evolving outlook and the balance...
AFP
Washington (AFP) - The US Federal Reserve could provide additional clues on Wednesday about how much it will cut interest rates this year, but it is almost certain to leave its key lending rate unchanged for the time being. Following two days of debate, the Fed's rate-setting Federal Open Market Committee (FOMC) will publish its interest rate decision Wednesday, along with an updated summary of economic projections (SEP) that includes policymakers' interest rate expectations for 2024 and beyond. The US central bank has lifted its key lending rate to a 23-year high of between 5.25 and 5.50 pe...
AFP
Washington (AFP) - The US Federal Reserve began two days of discussions on Tuesday at which policymakers are expected to hold firm on interest rates, and continue discussions about when to start cutting them. The meeting got under way in Washington at 9am local time (1300 GMT) on Tuesday, the Fed said in a statement. It will culminate on Wednesday afternoon with the publication of the interest rate decision, along with an updated summary of economic projections (SEP), which will include a prediction of how many interest rate cuts policymakers expect to make this year. The Fed has raised int...
AFP
Washington (AFP) - The US Federal Reserve is widely expected to keep its key lending rate unchanged again on Wednesday, as policymakers continue discussions over when to start rate cuts and launch the next phase in their long-running battle against inflation. The Fed has raised interest rates to a 23-year high of between 5.25 and 5.50 percent as it looks to return inflation firmly to its long-term target of two percent. After making significant progress against rising prices last year, 2024 has been more challenging, with the US seeing a small uptick in the pace of monthly inflation. At the ...
AFP
Washington (AFP) - The US Federal Reserve is widely expected to start cutting interest rates in the coming months, as inflation edges closer to its long-run target of two percent. What is less clear, however, is when the first of those cuts will come. While the US central bank is almost certain to announce it is holding its key lending rate steady at its next rate decision on Wednesday, analysts think it could also drop some more hints that cuts are coming. In economic forecasts published alongside the last Fed decision, policymakers indicated that they expect as many as three quarter perce...
AFP
Washington (AFP) - US businesses say they are "optimistic" about the prospect of falling interest rates, even as economic conditions have remained largely unchanged in recent weeks, the Federal Reserve said Wednesday. The US Fed recently voted to keep interest rates at a 22-year high, while penciling in up to three interest rate cuts this year, citing progress made in tackling inflation. In past weeks, businesses have sounded optimistic about the likelihood of lower rates in the months to come, the Fed announced in its regular update of economic conditions known as the "beige book." "The pro...
AFP
Washington (AFP) - US Federal Reserve officials expect interest rates will need to remain high "for some time" to tackle stubborn inflation, according to minutes of the most recent rate decision published on Wednesday. The Fed announced last month that it would continue to hold interest rates at a 22-year high, and penciled in up to three rate cuts in 2024, sending US stock markets surging to new records. Since then, Fed officials have looked to dampen the buoyant market expectations that cuts were imminent, stressing that inflation remains stuck above the central bank's long-run target of two...
AFP
Washington (AFP) - The US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for the third straight meeting but policymakers signaled they expect to make three rate cuts next year. The Fed's decision to keep its key lending rate between 5.25 percent and 5.50 percent lets policymakers determine "the extent of any additional policy firming that may be appropriate," the US central bank said in a statement. The inclusion of the word "any," which was absent in November's decision, was added as "an acknowledgement that we believe that we are likely at or near the peak rate for...
AFP
Washington (AFP) - The US Federal Reserve began a two-day interest rate meeting Tuesday at which policymakers are widely expected to hold rates steady for a third straight meeting as they continue the fight against high inflation. The meeting began at 10:30 am (1530 GMT), the Fed announced in a statement. With another pause almost certain, traders and analysts are keenly debating how soon the US central bank will start cutting interest rates, and how rapidly it will then do so. The Fed, which has a dual mandate to lower inflation to its long-term target of two percent while also tackling un...
AFP
Washington (AFP) - US economic activity has slowed in recent weeks and the labor market has continued to cool, the Federal Reserve announced Wednesday, as it continues its fight against stubborn inflation. The Fed announced earlier this month that it was holding its key lending rate at a 22-year high as it looks to return inflation firmly to the long-term target of two percent without triggering a damaging recession. Cutting inflation while avoiding a downturn, commonly known as a "soft landing," is challenging, but the latest update from the US central bank suggests it could be on track. "O...
AFP
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