Economics
Fed Reins In Rate-Hike Path as Brexit Cited in Latest Pause
- Yellen says Brexit vote influenced call to keep rates steady
- FOMC vote was unanimous as dissenter George rejoins majority
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Fewer Federal Reserve officials expect the central bank to raise interest rates more than once this year, as policy makers painted a mixed picture of a U.S. economy where growth is picking up while job gains slow.
Britain’s June 23 referendum on membership of the European Union was also “one of the uncertainties that we discussed and that factored into today’s decision,” Chair Janet Yellen said after the Federal Open Market Committee voted unanimously to leave rates steady at the end of a two-day meeting on Wednesday in Washington.