The Federal Reserve is expected to hold interest rates steady at its policy meet...
WASHINGTON - The Federal Reserve is expected to hold interest rates steady at its policy meeting this week as policymakers balance recent stronger-than-expected U.S. economic growth against sluggish inflation.
The policy-setting Federal Open Market Committee is due to release its latest statement at 2 p.m. EDT on Wednesday after the end of a two-day meeting. Fed Chairman Jerome Powell will hold a press conference shortly after. After adding a meager 33,000 jobs in February, U.S. employers added nearly 200,000 in March. The S&P 500 index also hit a new record high and U.S. retail sales rebounded in March after a lull.
But a round of volatility in stock and bond markets late last year, coupled with weak inflation and signs of a global economic slowdown, prompted the Fed to change its plans for further hikes and shift to a strategy of staying on hold until something changes. The Fed raised rates four times last year, and as late as December envisioned more increases this year.Inflation in particular continues to fall short of the Fed’s 2 percent goal, and was just 1.
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