WASHINGTON (AP) – Federal Reserve officials said Wednesday that inflation has fallen further toward their target level in recent months, but signaled that they expect to cut their key interest rate only once this year. Policymakers’ forecast for one rate cut was down from an earlier forecast of three because inflation, despite cooling in the … Read more
A new wave of political pressure greeted Fed Chairman Jerome Powell as he and his colleagues gathered in Washington this week to discuss the direction of interest rates and a cooler-than-expected inflation reading on Wednesday. reinforced that consideration. From the left, the immediate reaction from Senator Martin Heinrich, the chairman of the Joint Economic Committee … Read more
The Federal Reserve on Wednesday kept the key interest rate unchanged and signaled that only one cut is expected before the end of the year. With markets hoping for a more accommodative central bank, Federal Open Market Committee policymakers took two rate cuts off the table after their two-day meeting from three indicated in March. … Read more