Fed Holds Rates Unchanged: Traders Brace For Powell's Likely Final Presser (UPDATED)
The Federal Reserve held the benchmark federal funds rate at 3.50-3.75% on Wednesday, in what is widely expected to be Chair Jerome Powell‘s final policy decision before passing leadership to Kevin Warsh on May 15. Governor Stephen Miran again dissented in favor of a quarter-point cut. The Fed flagged that “inflation is elevated, in part reflecting the recent increase in global energy prices,” marking a hawkish turn…
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