Federal Reserve keeps interest rates unchanged as it watches inflation data
March 20 (UPI) — A “bumpy road” and recent rise in inflation caused the Federal Reserve to hold steady on interest rates on Wednesday, Federal Reserve Chairman Jerome Powell announced during an afternoon news conference.
Powell said the Federal Reserve committee “remains confident” that inflation eventually will reach 2% but will wait until it sees economic data “that gives us the confidence that inflation is reducing to 2%,” before lowering the Federal Reserve’s key interest rate.
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