Fed Holds Rates, Signals Cautious Path Amid Elevated Uncertainty
TL;DR Summary
The Federal Reserve left the target federal funds rate at 3.5%–3.75%, saying growth remains solid but inflation remains somewhat elevated and uncertainty is high, including risks from Middle East developments. The committee emphasized a data-driven approach and said it stands ready to adjust policy to achieve maximum employment and 2% inflation over the longer run, with one dissenter favoring a 25-basis-point rate cut.
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