Fed keeps rates steady
The Federal Reserve kept its target monetary policy rate unchanged, and noted “a lack of further progress” toward getting inflation down to its 2% target. Stocks and bonds were relatively unchanged on the announcement.
But they rose after Fed Chair Jerome Powell’s post-statement news conference, in which he seemed to discount the chance that the Fed could move to rate hikes soon.
"I think it’s unlikely that the next policy rate move will be a hike,” he said.
5.25%-5.50%
“Unlikely that the next policy rate move will be a hike.”
