First reprieve since US central bank embarked on aggressive monetary tightening programme last year
Allen brothers investment in mortgage firm, Pepper hikes rates, and how to manage finances while dealing with autism or ADHD
The Fed could implement an additional rate rise as early as next month, when its policy setting committee is scheduled to meet again. For that reason, economists said its decision to hold rates steady on Wednesday amounts more to a “skip” than a “pause”. In March, when the dot plot was last updated, most policymakers projected the central bank would not raise rates beyond the current level, in large part because of banking stress following the failure of Silicon Valley Bank and other lenders.
Powell said last month that the central bank could afford to look at the data and make “careful assessments” in terms of the path forward for policy. According to the projections released on Wednesday, most officials now project “core” inflation, based on the personal consumption expenditures price index, to decline to 3.9 per cent this year before further slowing to 2.6 per cent in 2024 and 2.2 per cent in 2025.
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