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

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
Huawei calls on Korean chipmakers to continue their parts supply
Huawei calls on Korean chipmakers to continue their parts supply

  South Korean companies are finding themselves stuck in the middle of t [ ... ]

Read more la
Huawei kicked out from Wi-Fi Alliance, SD Association, other standard groups
Huawei kicked out from Wi-Fi Alliance, SD Association, other standard groups

  The bad news keeps piling up for under-fire Huawei.
Reports say the Chinese [ ... ]

Read more la
Trump announces new US$16 bil. aid package for American farmers hit by trade war
Trump announces new US$16 bil. aid package for American farmers hit by trade war

  U.S. President Donald Trump has announced a new 16 billion dollar aid package  [ ... ]

Read more la
IMF says US companies are paying China tariff costs
IMF says US companies are paying China tariff costs

  The International Monetary Fund says companies in the U.S. are paying al [ ... ]

Read more la
Reaction to collapse of Jamie Oliver’s restaurant chain
Reaction to collapse of Jamie Oliver’s restaurant chain

  Jamie Oliver's restaurant chain has become the latest to collapse into adminis [ ... ]

Read more la
US slows hiring of Chinese nationals by chip makers
US slows hiring of Chinese nationals by chip makers

  The United States is slowing approvals for its semiconductor companies to hire [ ... ]

Read more la
'Boycott Apple' Movement grows in China as U.S. goes after Huawei
'Boycott Apple' Movement grows in China as U.S. goes after Huawei

  The intensifying trade war between China and the U.S. is prompting Chinese [ ... ]

Read more la
US delays Huawei ban for 90 days
US delays Huawei ban for 90 days

  The United States has decided to allow Huawei to purchase U.S. made products [ ... ]

Read more la

Our Sponsors


La Latest

Boris pressed over mystery photo with girlfriend - UK PM wannabe

  Boris Johnson faces questions from listeners on LBC Radio in an interview wi [ ... ]

Read more la
Bitcoin price surges above US $11,000 mark, highest in 15 months

  The price of Bitcoin soared above the 11-thousand U.S. dollars on Monday,... [ ... ]

Read more la
Huawei sues US Commerce Dept over mishandled package

  Huawei has filed a civil lawsuit against the U.S. Commerce Department ov [ ... ]

Read more la
More than half of S. Korean job seekers think it's impossible...

  South Korean jobseekers want their dream salary to be around 83-thousand dolla [ ... ]

Read more la
Jeremy Hunt vs Boris Johnson for UK PM; more live TV debates wanted

  Jeremy Hunt has challenged Boris Johnson to take part in live TV debates bef [ ... ]

Read more la
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
4 facing murder charges for downing Malaysian Airlines MH17

  Four people will face prosecution over the downing of Malaysia Airlines fl [ ... ]

Read more la
Trump abruptly calls off military strikes against Iran after hearing they could kill 150 people

  Now, for the latest on the escalating tensions between Washington and Tehran.  [ ... ]

Read more la

La Entertain

BTS launches new mobile game where players manage band

  Imagine you could make decisions about Korean boyband BTS' career,... how  [ ... ]

Read more la
Zhao Liying shares first photo after having baby son "little piglet"

On 23 Jun 2019, Zhao Liying shares with fans her first photo after delivering her baby son with husb [ ... ]

Read more la
Toy Story 4 & Child's Play returns

  It's Thursday so we are going to turn our focus on movies and the latest release [ ... ]

Read more la
BTS tours Japan next month, starting from Osaka

  Ticket sales from this year's world tour by K-pop group BTS have reached alm [ ... ]

Read more la
France's Lumiere Film Festival likes 'Parasite' director

  South Korean director Bong Joon-ho has been invited to this year's Lumiere F [ ... ]

Read more la
Netmarble to release 'BTS World' mobile game on June 26

  Local game maker Netmarble will release its new mobile game "BTS World" global [ ... ]

Read more la
Korea vs China Dance Off in Seoul

  An event was held today in Seoul to promote friendship between China and S [ ... ]

Read more la
BTS and Bang Si-hyuk to join voting for Grammy Awards

  K-Pop sensations BTS and their chief producer have clinched memberships to the [ ... ]

Read more la