Fed holds rates steady
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In a press conference following the central bank’s latest policy meeting, at which it left interest rates unchanged after three consecutive cuts, Jerome Powell was pressed on the current economic climate, the Fed’s approach to future policy decisions, as well as his own future once his term ends in May.
The Federal Reserve is expected to keep its key interest rate at the target range of 3.5% to 3.75%, but traders are looking for hints on next steps for policy.
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Key Takeaways The Federal Reserve held borrowing costs steady after three consecutive quarter-point cuts to its key interest rate.Simmering inflation and a cooling job market are pulling the Fed's policy in opposite directions.