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Fed Holds Rates Steady as Powell’s Commentary Takes Center Stage
Fed Holds Rates Steady as Powell’s Commentary Takes Center Stage
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The Federal Reserve maintained its benchmark interest rate at 4.25%-4.50% during the May 7-8 meeting, marking the fifth consecutive pause since December 2023. market participants had priced in a 97% probability of unchanged policy, per CME’s FedWatch tool.
Chair Jerome Powell’s post-meeting press conference dominated attention, with analysts scrutinizing his assessment of sticky inflation and recession risks. The Fed chief’s remarks at 2 PM ET Wednesday will shape expectations for the central bank’s next moves in 2024’s volatile economic landscape.
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