Fed Keeps Rates Unchanged

Date : 06/20/2019 @ 9:15AM
Source : Dow Jones News

Fed Keeps Rates Unchanged

By WSJ City 

Federal Reserve officials held their benchmark interest rate steady on Wednesday following a two-day policy meeting, but hinted they would cut rates in the months ahead if the economic outlook weakens.


--- The Rate Decision: Fed officials held Fed funds steady at 2.25-2.50%, as expected.

--- US stocks rose after the central bank concluded its policy meeting.

--- The statement instead included language that highlighted risks to economic growth.

--- The statement says the Fed "will act as appropriate" to sustain the country's economic expansion.

--- Bond yields slid. The yield on the 10-year U.S. Treasury fell to 2.023%.

What Was Said

Fed Chairman Jerome Powell began his press conference by voicing his commitment to the Fed's main goals: a strong labour market and stable prices. Powell pushed back against the idea of being demoted, which President Trump raised earlier this week.

"I think the law is clear that I have a four-year term and I fully intend to serve it."

Fed Chairman Jerome Powell

Powell also said that sealing a deal with China on a new trade pact would not necessarily remove the possibility of future interest-rate cuts.

A fuller story is available on WSJ.com

WSJ City: The news, the key facts and why it matters. Be deeply informed in less than five minutes. You can find more concise stories like this on the WSJ City app. Download now from the App Store or Google Play, or sign up to newsletters here http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity


(END) Dow Jones Newswires

June 20, 2019 04:00 ET (08:00 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.