Latest Global Business News

Fed keeps benchmark interest rate unchanged at 2.25-2.5% range

 
The Federal Reserve has left U.S. rates unchaged.
No more rate hikes are expected for the rest of the year either,... but one might happen in 2020.
 
Lee Seung-jae reports.
 
Following its two-day meeting,... the Federal Open Market Committee announced Wednesday that it has left its benchmark interest rate unchanged at the target range of 2-and-a-quarter percent to 2-and-a-half percent.
 
After raising rates for five consecutive quarters,... the decision comes amid increasing concern about slowing economic growth.
Analyzing data released at the end of the two-day meeting,... the FOMC expects not to raise rates again at all this year,... projects a single rate increase in 2020 and none in 2021.
 
Fed officials had initially expected two rate increases this year and one more in 2020.
At a news conference shortly after the meeting, Fed Chairman Jerome Powell said the Fed expects the U.S. economy to "grow at a solid pace" in 2019,... but will be slower than last year's quick acceleration.
 
"The U.S. economy is in a good place, and we will continue to use our monetary policy tools to help keep it there.(cut) We continue to expect that the American economy will grow at a solid pace in 2019, although likely slower than the very strong pace of 2018. We believe that our current policy stance is appropriate."
 
fed rate freeze
 
Powell, also did not rule out the possibility that, based on the current condition of the U.S. economy,... the Fed's next move could be a rate cut.
 
Looking to the future,... eleven committee members said they do not expect any more rate increases in 2019,... while four said they expect one.
 
None of the members expect a rate cut. In 2020, seven members expect no additional rate hikes,... while four expect one.
Three expect two increases,... and the other three members predict three to four.
 
Analysts believe the Fed will hold rates steady as Fed officials now expect economic growth of 2-point-1-percent for 2019, down from the 2-point-3 it forecast in December,... but warn a downward revision on growth could spook investors.
 

Add comment

Emails are optional and for tracking replies. Names are unique; get yours today with a comment!

Security code
Refresh

La Business

IMF says China should keep exchange rate flexible as trade war intensifies
IMF says China should keep exchange rate flexible as trade war intensifies

  The International Monetary Fund says China should keep its exchange rate f [ ... ]

Read more la
Trump labels China as 'currency manipulator,' as yuan drops to historic lows
Trump labels China as 'currency manipulator,' as yuan drops to historic lows

  U.S. President Donald Trump has lashed out against China for manipulating it [ ... ]

Read more la
Japan considered undeveloped in AI, says SoftBank CEO
Japan considered undeveloped in AI, says SoftBank CEO

  One of Japan's top businessmen says his 90-billion U.S. dollar venture fu [ ... ]

Read more la
Bill Gates' wife Melinda Gates: Trump 'isn't being true' to American values
Bill Gates' wife Melinda Gates: Trump 'isn't being true' to American values

  Melinda Gates has accused US President Donald Trump of not being "true" to Ame [ ... ]

Read more la
Coffee sales in 2019 projected to reach US$5.8 bil. or 300 cups per person
Coffee sales in 2019 projected to reach US$5.8 bil. or 300 cups per person

  A report by the Hyundai Research Institute projects the local coffee industry's  [ ... ]

Read more la
Deutsche Bank to cut 18,000 jobs worldwide in radical restructuring
Deutsche Bank to cut 18,000 jobs worldwide in radical restructuring

  Deutsche Bank has announced a plan to cut 18-thousand jobs by 2022 to boost  [ ... ]

Read more la
Huawei denies conducting research for Chinese military
Huawei denies conducting research for Chinese military

  Huawei's top legal officer claims the company does not customize products no [ ... ]

Read more la
FedEx sues US Commerce Department over export controls in Huawei dispute
FedEx sues US Commerce Department over export controls in Huawei dispute

  Global delivery firm FedEx has a 'special delivery' for the U.S. government. [ ... ]

Read more la
Fed keeps benchmark interest rate unchanged, but signals rate cuts in future
Fed keeps benchmark interest rate unchanged, but signals rate cuts in future

  The U.S. Federal Reserve has kept interest rates unchanged,... but hinted  [ ... ]

Read more la
Huawei signs deal with Russian telecoms firm to develop 5G
Huawei signs deal with Russian telecoms firm to develop 5G

  China's Huawei has signed a deal with Russian telecoms firm MTS to develop 5G  [ ... ]

Read more la
Mastercard drops Neymar from campaign amid rape allegation
Mastercard drops Neymar from campaign amid rape allegation

  Mastercard has canceled a planned advertising campaign featuring Brazilian s [ ... ]

Read more la
World Bank downgrades 2019 global economic outlook to 2.6%
World Bank downgrades 2019 global economic outlook to 2.6%

  The World Bank has downgraded its global economic outlook for this year to two [ ... ]

Read more la
Fed Chairman Jerome Powell hints at possible rate cut if necessary, citing trade war with China
Fed Chairman Jerome Powell hints at possible rate cut if necessary, citing trade war with China

  The head of the U.S. Federal Reserve has hinted at a possible interest rate  [ ... ]

Read more la
Generation Z seeks fun and relies on influencers when shopping
Generation Z seeks fun and relies on influencers when shopping

  It appears those born in the mid-90s or later - have unique shopping habits... [ ... ]

Read more la
China's Huawei holds world's No. 2 smartphone spot in Q1: Report
China's Huawei holds world's No. 2 smartphone spot in Q1: Report

  China's telecom company Huawei maintained its spot as the world's second-l [ ... ]

Read more la
Fiat Chrysler proposes merger with Renault
Fiat Chrysler proposes merger with Renault

  Italian-American automaker Fiat Chrysler proposed joining forces with French [ ... ]

Read more la

Our Sponsors


La Latest

Merkel challenges Johnson to find backstop solution in 30 days

  UK Prime Minister Boris Johnson is on his first overseas trip since becomi [ ... ]

Read more la
'Missing' British Hong Kong consulate employee detained in China for violating 'public order'

  Now to an update on the British government worker in Hong Kong who went miss [ ... ]

Read more la
British consular official in Hong Kong disappears while on trip to mainland China

  With tensions rising between mainland China and Hong Kong over the pro-democ [ ... ]

Read more la
Iceland holds funeral for its first lost glacier

  Officials in Iceland and climate change activists held a funeral on Sunday f [ ... ]

Read more la
Samsung unveils Galaxy Note 10, souped-up Note 10 Plus

  Samsung introduced its new premium smartphone, the Galaxy Note 10, on Wednesda [ ... ]

Read more la
Police officer killed attending reported burglary

  A police officer has been killed after attending a reported burglary in th [ ... ]

Read more la
Costs of raising pets and changing pet market consumer trends

  The pet market is growing amid an increasing number of people raising pe [ ... ]

Read more la
Trump says he doesn't want to see Hong Kong protests met with violence by China

  As the pro-democracy movement in Hong Kong continues to simmer despite a [ ... ]

Read more la

La Entertain

Zhao Liying first day at work after delivering baby son for husband William Feng Shaofeng

22 Aug 2019 - Zhao Liying Zanilia has been spotted on a number of occasions after her pregnancy but  [ ... ]

Read more la
Tiffany Tang's baby daughter bump too big to hide

22 Aug 2019 - On a recent filming session while Tiffany Tang was on the set, she was dressed in bagg [ ... ]

Read more la
Donnie Yen & Takuya Kimura's daughters grow up; Jasmine Yen & Mitsuki Kimura

Japanese heartthrob Takuya Kimura (46)'s 16 year old daughter Mitsuki Kimura has just made her debut [ ... ]

Read more la
Fish Leong divorces husband Tony Chao for dating internet babe

On 18 Aug 2019, it has been allegedly discovered that Malaysian songbird Fish Leong (41) has already [ ... ]

Read more la
Shawn Yue's son Xiao Yue with wife Sarah Wang seen for first time

Shawn Yue has been happily married since Dec 2017. He became a father in May 2018 - wa, shotgun! - h [ ... ]

Read more la
Jing Boran falls from 5m stage while filming The Climbers; Jackie Chan co-stars

On 12 Aug 2019, Jing Boran was filming on the set of "The Climbers"《攀登者》on a 5m high stage [ ... ]

Read more la
Irene Chen Ailing shows off seductive pregnancy curves of son with husband Alex; talks about miscarriage

Irene Chen Ai Ling shares seductive pregnancy curves with husband Alex; talks about miscarriage. &n [ ... ]

Read more la
BTS to take 'extended' break for the first time since debut

  K-pop sensation BTS are taking a break from all performances following a sle [ ... ]

Read more la