The Federal Reserve remains on its policy path despite an indication from the central bank Wednesday that it is no longer taking an "accommodative" stance, Chairman Jerome Powell said.
Markets had been watching closely to see whether the Fed would drop the language, which has been in place going back years through its efforts to pull the economy out of its financial crisis-era malaise.
The policymaking Federal Open Market Committee issued a statement after its two-day meeting without the phrase.
"The change does not signal any change in the likely path of policy," Powell told reporters. "Instead it is a sign that policy is proceeding in line with our expectations."
This is a breaking news story. Check back here for updates.
from Top News & Analysis https://ift.tt/2NKkr5E
No comments:
Post a Comment