The Federal Reserve on Wednesday held its benchmark interest rate steady for the first time in over a year, but in a signal that the hiking cycle is not over, officials adjusted their communications to stress that another 50 basis points of rate hikes are on the table this year.
“Holding the target range steady at this meeting allows the [Federal Open Market Committee] to assess additional information and its implications for monetary policy,” the Fed said in explaining its pause.
The…
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