Fed holds rates steady; three policymakers dissent in favor of a hike
” In leaving the policy rate pinned in the range it has been since December, Fed policymakers are embracing the idea that current borrowing costs are creating enough friction in the economy to reduce any inflation that isn’t, like the effect of tariffs on goods prices, expected to fade on its own.“Inflation remains elevated relative to the Committee’s 2% goal,” the Fed said in a short policy statement after the end of its latest two-day meeting.
By then, Fed policymakers will have in hand two more monthly readings on inflation and the jobs market, giving them a better picture of whether the cooling price pressures evident last month have continued.
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