The Federal Reserve on Wednesday left unchanged a key U.S. interest rate that influences the cost of borrowing for mortgage and all sorts of consumer and...
The Federal Reserve on Wednesday left unchanged a key U.S. interest rate that influences the cost of borrowing for mortgages and all sorts of consumer and business loans, noting a recent decline in inflation even as the economy continues to grow “at a solid rate.”
“I see us on a good path,” Fed Chairman Jerome Powell said in a press conference after the latest two-day meeting, at which senior central-bank officials evaluated the health of the economy.The Fed acknowledged both overall and core inflation “have declined and are running below” the central bank’s 2% target, but Powell said there’s reason to believe the slackening in prices pressures is “transient.
“Stronger growth but weaker inflation equaled a still-patient Fed,” said economist Andrew Grantham of CIBC World Markets.
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