Fed continues to wait for price pressure to ease
As was generally expected, the FOMC, the body of the US Federal Reserve that decides on monetary policy, left key interest rates unchanged yesterday. For the markets, the focus was on how the FOMC would react to the latest economic data, which showed a continued solid economy and increased inflationary pressure. Fed Chairman Powell addressed the data situation. The key messages were that the data of recent months had not increased the FOMC's confidence and that it would take longer than originally assumed.
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