Fed holds interest rates steady, wants inflation to fall further

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The Federal Reserve is maintaining its fed funds target rate of 5.25 to 5.5 percent. In its statement, the Federal Open Market Committee makes it clear they want to see inflation decline further, writing "The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent." Officials also spoke of recent economic strength, saying "economic activity has been expanding at a solid pace. Job gains have moderated since early last year but remain strong, and the unemployment rate has remained low." However, they did remove language that hinted more rate hikes could be on the table. Yahoo Finance Federal Reserve Reporter Jennifer Schonberger reports the breaking details. #youtube #FederalReserve #youtube About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.din.com/company/yahoo-finance
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