The Federal Reserve held the line on interest rates at its meeting this week, though it did give a nod to growing optimism among the business community and consumers.
As widely expected, the Federal Open Market Committee — the central bank’s policy making arm — kept its benchmark overnight lending rate target at a range of 0.5 percent to 0.75 percent. In December, the Fed raised the target a quarter point, or 25 basis points, marking just the second hike in more than 10 years.
There was little in the post-meeting communique to indicate when the Fed might resume the rate normalization process.
Growth Forecasts to Rise But Inflation is Coming
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Craig Erlam
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