The Federal Reserve keeps interest rates unchanged and no longer mentions "progress" in inflation in its policy statement
According to Jin10 Data on January 30, the Federal Reserve maintained its interest rates unchanged, offering little insight into when it would further reduce borrowing costs in an economy where inflation is still above target, growth continues and unemployment rate is low.
Fed officials said they essentially expect progress in reducing inflation to resume this year but have now paused rate cuts awaiting data confirmation. Officials stated that they want to see if inflation will continue to fall to the Fed's target level over the next few months before relaxing monetary policy again. They also expressed uncertainty about the impact of Trump's plans on price pressures, labor market and economic growth.
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