Fed keeps rates steady, but acknowledges inflation progress
Investing.com -- The Federal Reserve left interest rates unchanged Wednesday, but acknowledged recent progress on inflation and cooling in the labor market, stoking investor hopes that the central bank could begin cutting rates sooner rather than later.The Fed has kept rates unchanged over the past year as it assessed incoming data to guide policy decisions.
"Inflation has eased over the past year but remains somewhat elevated," the Fed said Wednesday in its July policy statement. That marked a subtle change from June, when the Fed characterized inflation as"elevated." "The Committee judges that the risks to achieving its employment and inflation goals continue to move into better balance, the Fed added.
Powell’s press conference at 14:30 ET will be closed watched for further clues on the possible path toward the first rate cut, though many expect the Fed chief to avoid committing to any timeline.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed's Dudley now calling for Fed rate cut next week amid recession concernsFed's Dudley now calling for Fed rate cut next week amid recession concerns
Read more »
Recent data flow increases risk of Fed cutting rates before December: BofARecent data flow increases risk of Fed cutting rates before December: BofA
Read more »
Citi sees Fed cutting rates at each consecutive meeting staring in SeptemberCiti sees Fed cutting rates at each consecutive meeting staring in September
Read more »
Citi sees Fed cutting rates at each consecutive meeting staring in SeptemberCiti sees Fed cutting rates at each consecutive meeting staring in September
Read more »
Fed unlikely to cut rates next week, but may send clear signal on September cutFed unlikely to cut rates next week, but may send clear signal on September cut
Read more »
Fed unlikely to cut rates next week, but may send clear signal on September cutFed unlikely to cut rates next week, but may send clear signal on September cut
Read more »