Federal Reserve holds interest rates steady as Trump’s new chairman faces fresh inflation woes
Unanimous vote.
Cut growth projection from 2.4% to 2.2%
Speculation the one didn't list projection is Chariman. Only 18 officials of the Fed's 19-member Federal Open Market Committee submitted interest rate projections. One member declined to submit projections. This year, eight officials see holding rates steady, three officials see one rate hike, five see two rate hikes, and one sees four hikes.
The Fed dramatically shortened its policy statement and dropped language signaling that its next move would be a rate cut.
Inflation is now seen rising 3.6%, compared with 2.7% previously, on a headline basis. On a "core" basis, officials see inflation at 3.3%, compared with 2.7% previously.
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