Fed's Waller says Mar. rate cut hinges on labor market
Digest more
Barring a rapid deterioration in the labor market or a significant cooling of inflation, the Federal Reserve appears poised for an extended hold.
Meeting market expectations, the central bank's Federal Open Market Committee voted to keep its key interest rate in a range between 3.5%-3.75%. The decision put a halt to three consecutive quarter percentage point reductions, billed as maintenance moves to guard against potential downturns in the labor market.
The Fed maintained its federal funds rate — what banks charge each other for short-term loans — in its current range of 3.5% to 3.75%. The decision matched expectations from Wall Street economists, according to financial data service FactSet.
President Trump's economic agenda was roiled by the Supreme Court's unfavorable decision on his tariffs The February jobs report looms large in monetary policy, with Fed Governor Christopher
The Federal Reserve on Wednesday released minutes from its Jan. 27-28 meeting.
WASHINGTON (AP) — The Federal Reserve pushed the pause button on its interest rate cuts Wednesday, leaving its key rate unchanged at about 3.6% after lowering it three times last year.
7don MSN
Fed dissent grows as some officials weigh return to interest rate hikes amid stubborn inflation
The minutes of the Federal Reserve's January meeting revealed policymakers considered language about possible rate hikes amid concerns over elevated inflation.
Central bankers cut rates three times last year, but are cautious about lowering borrowing costs any further due to a weakening job market. President Donald Trump has said his pick for a new Fed Chair to replace Jerome Powell,
Chicago Fed president Austan Goolsbee said Tuesday he’s focused on bringing inflation back down before cutting interest rates any further. “I remain optimistic that there can be more rate cuts this year.