Economics
Fed Sticks to Gradual Rate-Hike Approach Despite Slowdown
- FOMC leaves rates unchanged, deems weak growth temporary
- Unanimous vote in decision that keeps June hike option open
This article is for subscribers only.
U.S. central bankers stuck to their outlook for gradual monetary-policy tightening after they left interest rates unchanged and showed no alarm over recent economic weakness.
Federal Reserve officials were unusually explicit in their statement, released Wednesday following a two-day meeting in Washington, indicating that a disappointing first quarter wouldn’t knock the committee off its path to raise rates two more times this year after a hike in March.