Today the Federal Reserve announced they would be keeping rates at 5.5% for longer, as forecast, and insinuated that rate cuts will be coming later this year, with expectations pointing very strongly towards the first rate cut by May.
The Federal Reserve said in a statement:
Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have moderated since early last year but remain strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are moving into better balance. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks.
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