Fed members agreed, however, that they did not want to signal new cuts.
In Powell’s testimony to Congress, he said ‘crosscurrents’ have been weighing on economic activity and the central bank will ‘act as appropriate.’
The Fed doesn't see "a strong case for moving [rates] in either direction" amid weak inflation and solid economic growth.
The central bank indicated it will slow the pace of interest rate increases in response to changing economic conditions.
Fed chair Jerome Powell calls the move "appropriate for what is a very healthy economy," but financial markets don't seem to share his confidence.
U.S. shoppers are benefiting from moderate inflationary pressures, while incomes increased 0.5% last month.
“My colleagues and I are doing all we can to keep the economy strong, healthy, and moving forward,” Fed Chairman Jerome Powell told reporters.
The current monetary policy addresses both the risk of a slowdown in economic growth and the risk of the economy overheating, Jerome Powell says.
The central bank didn't raise rates on Wednesday but reiterated that "further gradual increases" would be consistent with economic conditions.
When politicians start chiming in on monetary policy, they actually can torpedo sensible policy: opinion.
A final rule is aimed at reducing the threat that the financial difficulties of one large bank will spread to the system as a whole.
The decision to increase rates for the second time this year “is another sign that the U.S. economy is in great shape,” the Fed chairman says.
