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HomeMarket NewsFed Meeting Today | US Stock Market LIVE Updates: Iran war to increase inflation in the near term, Powell says
Fed Meeting Today | US Stock Market LIVE Updates: The Federal Reserve on Wednesday (March 18) decided to keep its key interest rate unchanged amid persistent inflationary pressures, uneven labour market signals, and geopolitical uncertainties.
Fed Meeting Today | US Stock Market LIVE Updates: The Federal Reserve on Wednesday (March 18) decided to keep its key interest rate unchanged amid persistent inflationary pressures, uneven labour market signals, and geopolitical uncertainties.
In a largely anticipated move, the Federal Open Market Committee voted 11-1 to maintain the federal funds rate at 3.5%-3.75%. This benchmark rate determines overnight lending costs for banks and affects borrowing rates for consumers and businesses across the economy.
Fed officials now expect that inflation will be 2.7% at the end of this year, up from their December forecast but slightly below the 2.8% it reached in January. They expect core inflation, which excludes the volatile food and energy categories, to also finish the year at 2.7%, up from a previous forecast of 2.5%.
Wall Street remained on edge as Iran’s vow to retaliate against strikes on a key gas field lifted oil prices, with stocks and bonds falling on fears that could trigger further disruptions and fuel inflation.
Watch this space for all the LIVE US stock market updates.
