The Federal Reserve held interest rates steady on Wednesday as policymakers took...
WASHINGTON - The Federal Reserve held interest rates steady on Wednesday as policymakers took heart in continued U.S. job gains and economic growth and held out hope that weak inflation will edge higher.
Fed policymakers said the economy was in good shape as it stands, with ongoing job and economic growth, and an eventual rise in inflation, still “the most likely outcomes” as the U.S. expansion nears its 10-year mark. The most recent data showed inflation running at around a 1.5 percent annualized rate, which would be a problem if it meant that households and businesses had doubts about the economy’s strength and were less willing to spend and invest.
The yield on 2-year Treasury notes, which moves in the opposite direction of its price, dropped to the lowest since late March at around 2.21 percent. U.S. stocks edged higher, with the benchmark S&P 500 Index up 0.2 percent on the session, and the dollar weakened against the euro.
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