The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the U.S. central bank’s 2% inflation target. The Fed’s new policy statement described inflation as remaining “elevated,” and updated quarterly economic … Read more
The Federal Reserve left interest rates unchanged on Wednesday but took a major step towards lowering them in coming months in a policy statement that tempered inflation concerns with other risks to the economy and dropped a longstanding reference to possible further hikes in borrowing costs. The U.S. central bank’s latest policy statement gave no … Read more
Gold firmed on Monday as rising tensions in the Middle East lifted demand for the safe-haven asset, while markets awaited a Federal Reserve policy decision later this week for more clues on the timing of this year’s first US interest rate cut.Spot gold was up 0.4% at $2,027.00 an ounce by 12:02 pm ET (1702 … Read more
Washington: Federal Reserve policymakers agreed last month that it would be appropriate to maintain a restrictive stance “for some time,” while acknowledging they were probably at the peak rate and would begin cutting in 2024. “Participants viewed the policy rate as likely at or near its peak for this tightening cycle,” according to the minutes … Read more