Fed keeps rates unchanged, drops mention of inflation 'progress' in policy statement
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Odaily reports that the Federal Reserve has kept interest rates unchanged, and has provided little insight into when it will further lower borrowing costs in an economy where inflation remains well above target, growth continues, and unemployment is low. Federal Reserve officials said they generally believe progress in lowering inflation will resume this year, but have now paused further interest rate cuts, waiting for data confirmation. Officials said they want to see if inflation continues to decline to the Federal Reserve's target level in the coming months, before easing monetary policy again, while also expressing uncertainty about the impact of Trump's plans on price pressures, the labor market, and economic growth. (Jinshi)
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