Fed Keeps Rates Unchanged, Signals One Rate Cut This Year

The Federal Reserve left its key interest rate policy unchanged on Wednesday, while officials predicted one rate cut this year at the latest monetary policy meeting. After the conclusion of their two-day Federal Open Market Committee (FOMC) monetary policymaking meeting, the Fed voted to leave its policy rate at a range of 5.25 percent and 5.5 percent. In a post-meeting statement, the monetary authorities noted that “there has been modest further progress toward” achieving the central bank’s 2 percent inflation target. “Inflation has eased over the past year but remains elevated,” the FOMC statement said, adding that officials will not cut rates until sufficient evidence supports such a decision....