Chairman Jerome Powell holds a news conference following the decision by the Federal Open Market Committee to hold off on a hike at this meeting.
The Federal Reserve on Wednesday decided against what would have been an 11th consecutive interest rate increase as it measures what the impacts have been from the previous 10.
But the decision by the Federal Open Market Committee to hold off on a hike at this meeting came with a projection that another two quarter percentage point moves are on the way before the end of the year.
Central bankers following a two-day meeting said they will take another six weeks to see the impacts of policy moves as the Fed fights an inflation battle that lately has shown some promising if uneven signs. The decision left the Fed’s key borrowing rate in a target range of 5%-5.25%.
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Federal Reserve Chairman Powell speaks on interest rate decision — 6/14/23
The Federal Reserve on Wednesday decided against what would have been an 11th consecutive interest rate increase as it measures what the impacts have been from the previous 10.
But the decision by the Federal Open Market Committee to hold off on a hike at this meeting came with a projection that another two quarter percentage point moves are on the way before the end of the year.
Central bankers following a two-day meeting said they will take another six weeks to see the impacts of policy moves as the Fed fights an inflation battle that lately has shown some promising if uneven signs. The decision left the Fed’s key borrowing rate in a target range of 5%-5.25%.
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Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
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Federal Reserve Chairman Powell speaks on interest rate decision — 6/14/23