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Fed Says Rate Intact, In Line; Lack of Progress in Falling Inflation in Recent Mth
The Federal Reserve announced Wednesday that it would keep the federal funds rate in the range of 5.25%-5.5%, in par with street consensus. The Fed said after the FOMC meeting that...
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Fed Says Rate Intact, In Line; Lack of Progress in Falling Inflation in Recent Mth
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The Federal Reserve announced Wednesday that it would keep the federal funds rate in the range of 5.25%-5.5%, in par with street consensus.

The Fed said after the FOMC meeting that there has been a lack of progress in falling inflation further towards the 2% target in recent month.

The Fed will slow down the pace of balance sheet reduction starting in June and will considerably cut the monthly limit on the balance sheet's Treasury bond holdings to US$25 billion, from the currently US$60 billion.

The reduction is larger than market expectations. This will trim annual holdings by US$300 billion from US$720 billion previously.

Fed Chair Jerome Powell will speak at 2:30 p.m. ET, and the market will be watching for his views on the timing of the first rate cut of the year.
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