Federal Reserve Policy Statement: Slight Further Progress Towards 2% Inflation Target
2024-06-12 18:41:37
The Fed's policy statement said there was "modest further progress" toward its 2% inflation target (and "lack of progress" in its May 1 statement); it does not expect to cut interest rates until there is greater confidence that inflation is sustainable toward 2%; the economy continues to expand steadily, with strong job growth and low unemployment; and it will continue to reduce its holdings of Treasuries and mortgage-backed securities.
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