Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
US Federal Reserve holds rates steady, cuts economic growth forecast
https://www.dw.com/en/us-federal-reserve-holds-rates-steady-cuts-economic-growth-forecast/a-47999724US Federal Reserve holds rates steady, cuts economic growth forecast
The Federal Reserve announced on Wednesday it is to keep its benchmark rate in a range of 2.25 percent to 2.5 percent. The rate influences financial products and services such as mortgages, credit cards and home equity lines of credit.
After raising rates for five consecutive quarters, the Fed indicated it saw no further need to raise them again in the near future.
At their December meeting, the policymakers had predicted there would be two interest rate hikes in 2019, but now they project one rate hike in 2020 and none in 2021.
The Fed also revised down expectations for headline inflation, which includes oil and food, to 1.8 percent for the year, down from the 1.9 percent predicted at their December meeting.
(snip)
In their statement on Wednesday after a two-day policy meeting, the policymakers said that given sluggish growth and continually mild inflation, the Fed "will be patient as it determines what future adjustments to make" to rates.
(snip)