The Federal Reserve held interest rates steady and signaled little appetite to adjust them any time soon via ReutersTV
WASHINGTON - The U.S. Federal Reserve on Wednesday held interest rates steady and signaled little appetite to adjust them any time soon, taking heart in continued job gains and economic growth and the likelihood that weak inflation will edge higher.
Interest rate futures also reversed direction, signaling a lower degree of confidence the next Fed move would be a rate cut, exactly the point Powell was driving at in a “stay-the-course” message, said analysts at Cornerstone Macro. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File PhotoThe chief concern flagged in the policy statement was the currently “muted” level of inflation, which continues to fall short of the Fed’s 2 percent target. The statement suggested a recent decline in inflation may be more persistent than expected, and was no longer to be blamed simply on falling energy prices.
“If we did see inflation running persistently below , that is something that we would be concerned about and something that we would take into account in setting policy,” he said.
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