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Jun 15, 2023 12:57 AM

US Fed Rate Decision Live Updates: The median estimate for US GDP growth is marked up to one percent, up from 0.4 percent in March, says Powell on 2023 estimates.

Jun 15, 2023 12:49 AM

US Fed Rate Decision Live Updates: "We didn't make any decision about going forward including what would happen at the next meeting. We didn't decide or really discuss anything about 'going to every other meeting' kind of approach," Fed chair Jerome Powell said.

Jun 15, 2023 12:39 AM

US Fed Rate Decision Live Updates: "We have to get inflation level at 2% and we will," says Fed Chair Jerome Powell.

Jun 15, 2023 12:29 AM

US Fed Rate Decision Live Updates: "We are highly attentive to risks high inflation poses to both sides of mandate, said Chair Powell. Getting inflation back to 2 percent has a long way to go, acutely aware that high inflation imposes hardships," Powell says in the press briefing.

Jun 15, 2023 12:21 AM

US Fed Rate Decision Live updates: FOMC signals more tightening may come

After the policy decision, Federal Open Market Committee (FOMC) signalled they may resume monetary tightening to cool inflation.

“Holding the target range steady at this meeting allows the committee to assess additional information and its implications for monetary policy," the Federal Open Market Committee said in a statement.

Jun 15, 2023 12:13 AM

US Fed rate decision live updates: “We have raised our policy interest rate by five percentage points, and we’ve continued to reduce our security holdings at a brisk pace. We’ve covered a lot of ground and the full effects of our tightening have yet to be felt,” said Fed Chair Jerome Powell following the central bank decision.

Jun 15, 2023 12:09 AM

US Fed rate decision live updates: Two FOMC members don't see rate hikes this year

FOMC members approved Wednesday’s move unanimously, except two members who indicated they don’t see hikes this year. On the other hand, four FOMC members saw one rate hike with nine members expecting two. Two more members believed in a possibility of a third hike.

Jun 15, 2023 12:00 AM

US Fed rate decision live updates: Central Bank to assess additional information later

“Holding the target range steady at this meeting allows the Committee to assess additional information and its implications for monetary policy,” the post-meeting statement said.

The Fed next meets on July 25-26, 2023.

Jun 14, 2023 11:54 PM

US Fed rate decision live updates: Fed chair Jerome Powell to address press conference shortly

Jun 14, 2023 11:51 PM

US Fed rate decision live updates: Central bank keeps key borrowing rate in a target range of 5%-5.25%

The US Federal Reserve has maintained a key borrowing rate in a target range of 5%-5.25% after inflation eased to 0.1% in May, the lowest in two years. The annual rate was 4.9 percent in April.

Jun 14, 2023 11:44 PM

US Fed rate decision live updates: Central bank holds off on rate hike

Living up to the market expectations, the US Federal Reserve on Wednesday decided against an 11th consecutive interest rate increase.

However, the Federal Open Market Committee (FOMC) did laid out its projection that another two quarter percentage point moves are on the way before the end of 2023.

Jun 14, 2023 11:35 PM

US Fed rate decision live updates: Oil prices flat as markets debate US crude stocks

Oil prices were little changed on Wednesday as markets weighed a large build in US crude oil against bullish demand growth forecasts and optimism over the Federal Reserve likely pausing interest rates.

Brent crude futures were flat at $73.98 a barrel and US West Texas Intermediate (WTI) crude was trading at $69.09 at 1:50 PM ET. (11:20 IST)

Jun 14, 2023 11:23 PM

US Fed rate decision live updates: Global shares edged higher

Global shares edged higher as traders were all but certain that the US Federal Reserve will refrain from hiking interest rates.

"Having already flagged the possibility of a pause I think it's unlikely that (the Fed) would veer off course at this particular juncture," said Richard McGuire, head of rates strategy at Rabobank in London to Reuters.

Jun 14, 2023 11:03 PM

US Fed rate decision live updates: Fed Chairman Jerome Powell to interact with media after policy meet

After the statement and projections are released, Fed Chairman Jerome Powell will take questions from the media and explain the intentions behind the decision. Powell is expected to give insight into the state of the economy and the central bank’s path forward. Investors and market watchers expect Powell to take a cautious tone

Jun 14, 2023 10:45 PM

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