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Fed Waiting to See Economic Results From Flurry of Trump Actions

  • Economic impact of executive orders still hard to gauge
  • Central bankers offer little hint of timing of next rate hike

Like everyone trying to figure out where the U.S. economy is heading, the Federal Reserve is waiting to see what the whirlwind of executive orders and remarks from President Donald Trump mean for growth as they weigh the timing of the next interest-rate hike.

U.S. central bankers left their benchmark lending rate unchanged on Wednesday and used their statement to acknowledge that sentiment has gained, and that inflation will rise to their 2 percent target even with “gradual” adjustments in interest rates. They weren’t impressed by the fourth-quarter bounce-back in business investment and continued to term it “soft.”