Federal Reserve keeps hinting no more interest rates hikes until summer 2019, if not longer
Federal Reserve Board Chairman Jerome H. Powell gestures while speaking before the House Committee on Financial Services hearing on Capitol Hill in Washington on Feb. 27, 2019. By Heather Long Heather Long Economics correspondent Email Bio Follow March 5 at 2:53 PM Boston Federal Reserve President Eric Rosengren said Tuesday it could be “several meetings” before the Fed has a clear enough read on the economy to take action on interest rates.
The Fed will decide whether to raise, cut or keep interest rates the same at its meetings on March 20, May 1 and June 19. The benchmark U.S. interest rate is currently set at a range of 2.25 to 2.5 percent. For the U.S. and global economy, there is a lot riding on whether President Trump can ease trade tensions with China and Europe this spring. Numerous Fed leaders have described in recent days how growth overseas is slowing, a drag for the United States at a time when the impact of the tax cuts and fiscal stimulus appears to be fading.
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