Fed Keeps Rates Unchanged
20 June 2019 - 6:15PM
Dow Jones News
By WSJ City
Federal Reserve officials held their benchmark interest rate
steady on Wednesday following a two-day policy meeting, but hinted
they would cut rates in the months ahead if the economic outlook
weakens.
KEY FACTS
--- The Rate Decision: Fed officials held Fed funds steady at
2.25-2.50%, as expected.
--- US stocks rose after the central bank concluded its policy
meeting.
--- The statement instead included language that highlighted
risks to economic growth.
--- The statement says the Fed "will act as appropriate" to
sustain the country's economic expansion.
--- Bond yields slid. The yield on the 10-year U.S. Treasury
fell to 2.023%.
What Was Said
Fed Chairman Jerome Powell began his press conference by voicing
his commitment to the Fed's main goals: a strong labour market and
stable prices. Powell pushed back against the idea of being
demoted, which President Trump raised earlier this week.
"I think the law is clear that I have a four-year term and I
fully intend to serve it."
Fed Chairman Jerome Powell
Powell also said that sealing a deal with China on a new trade
pact would not necessarily remove the possibility of future
interest-rate cuts.
A fuller story is available on WSJ.com
WSJ City: The news, the key facts and why it matters. Be deeply
informed in less than five minutes. You can find more concise
stories like this on the WSJ City app. Download now from the App
Store or Google Play, or sign up to newsletters here
http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity
(END) Dow Jones Newswires
June 20, 2019 04:00 ET (08:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.