Economic news
Fed’s Powell: July FOMC will be a ‘live’ meeting
2023.06.14 15:10
© Reuters. U.S. Federal Reserve Chairman Jerome Powell listens to a question during a press conference after the release of the Fed policy decision to keep interest rates unchanged, at the Federal Reserve in Washington, U.S, June 14, 2023. REUTERS/Kevin Lamarque
(Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said the central bank’s next rate-setting meeting in July would be a “live” meeting after officials chose to forego a rate hike in June.
Powell’s remarks came after the Federal Open Market Committee left its benchmark rate at 5.00% to 5.25%, but officials’ forecasts showed they expect another half a percentage point of increases by year end.
