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Fed Signals No Rate Hike Until at Least June
As expected, the Federal Reserve has opted not to raise interest rates until at least its next review in June.
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As expected, the Federal Reserve has opted not to raise interest rates until at least its next review in June.
The decision came after initial data last week indicated the U.S. economy expanded by an annualized rate of only 0.7% in the first quarter of 2017, its slowest growth in three years. But the Fed, pointing to stronger business investment, says it expects expansion to resume at a “moderate pace” this year.
The central bank’s most recent rate adjustment was in March, when it increased its key lending rate by 25 points to a range of 0.75%-1.0%. Analysts expect the Fed to make two more small hikes by year-end.
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