Fed holds off on raising rates for 2019
The Fed has maintained the line on interest rates and will do so for the remainder of 2019, however the Committee was slightly split as the voting came in at 9-1 with St. Louis Fed President James Bullard calling for a hike in the rates.
The central bank predicts one or two rate cuts in its set of economic predictions, but not until 2020, however markets are still betting the Fed cuts, some as soon as July, despite the dovish press conference from Powell.
The Fed chief hinted during a press conference, “Many participants now see the case for somewhat more accommodative policy has strengthened.”
Source: Smart Trend Team
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