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Financial News: Fed Stands Pat On Interest Rates, On Track

Fed Stands Pat On Interest Rates, On Track For Two More Hikes In 2017

05/03/2017 - 14:05:00 (RTTNews)

(RTTNews) - The Federal Reserve on Wednesday voted unanimously to leave its benchmark interest rate at 0.75% to 1%, but signalled another rate hike is imminent despite recent economic weakness.

Downbeat economic news has gave policy makers reason to take a cautious approach to further tightening -- first quarter economic growth was slow, the March jobs report flopped and core inflation remains subdued.

Also, with no press conference from Fed Chair Janet Yellen scheduled for today, a rate hike in May was always a long shot.

A quarter percentage point increase last December was followed by another hike in March.

The Fed continues to project two more rate hikes in 2017, as recent economic weakness is "likely to be transitory" and "the fundamentals underpinning the continued growth of consumption remain solid."

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05/29/2017 - 09:56 AM (RTTNews)
(RTTNews) - The current very substantial degree of monetary accommodation is still needed for dome ...Full Story>>

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05/29/2017 - 05:44 AM (RTTNews)
(RTTNews) - Iceland's inflation slowed in May after accelerating in April, Statistics Iceland ...Full Story>>

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05/29/2017 - 03:52 AM (RTTNews)
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