The Patient Fed Sees No Rate Hike in 2019
In the statement on Wednesday, Fed signaled that there would be no rate hike in 2019.
The statement from the Federal Reserve on Wednesday showed that Fed was still “patient” on the rate hike to the point that Jerome Powell, Fed’s Chairman, signaled a no rate hike at all in 2019.
“We don’t see data coming in that suggest that we should move in either direction. They suggest that we should remain patient and let the situation clarify itself over time,” Powell said in a press conference. “It may be some time before the outlook for jobs and inflation calls clearly for a change in policy.”
The unanimous decision from Fed decided to held the target range of the federal funds rate at 2.25% to 2.5%.