The US Federal Reserve decided to stop hiking rates for the first time in 15 months and maintained its benchmark rate within a target range of 5%-5.25%. The move was made despite the fresh dot plot signalling a likely increase in the near future. The Fed’s statement indicated it would assess the implications of ongoing economic data before considering a shift in policy. Though the dot plot predicts two more hikes in 2019, Fed chair Jerome Powell said no decision had been made on whether to proceed and that the Fed needed to see signs of ongoing inflation moderation. US stocks had a mixed reaction to the news, with the Dow Jones down 0.68% but the S&P 500 increasing 0.08%.
The Fed Takes a Pause from Raising Rates After 15 Months: What You Should Know
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