Fed Statement Silent About September Rate Cut, Still Waiting for “Greater Confidence” About Inflation, Keeps Rates Unchanged

by Wolf Richter
Wolf Street

Powell has some explaining to do. Only slight concessions about strength of the labor market and improvements in inflation.

FOMC members voted unanimously today to maintain the Fed’s five policy rates, with the top of its policy rates at 5.50%, according to the statement released today after its two-day meeting. The last rate hike occurred in July 2023, and this decision marks the anniversary of the 5.25% to 5.5% rates:

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