This is the fifth meeting in a row in which rates were held, but two governors, Michelle Bowman and Christopher Waller, voted to cut interest rates by 25 basis points to 4%-4.25%.
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Fed chair Jerome Powell said: “Despite elevated uncertainty, the economy is in a solid position. The unemployment rate remains low, and the labour market is at or near maximum employment.
According to Powell, the US inflation has been running “somewhat above” the bank’s 2% target, but he added: “We believe that the current stance of monetary…
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