Fed keeps options open as countdown to lift-off begins
FOMC drops reference to being ‘patient’, but sounds cautious note on economy
The Federal Reserve could raise interest rates more gradually than first thought, despite the Federal Open Market Committee (FOMC) dropping the reference to being "patient" yesterday.
The guidance was intended to show the committee would not raise interest rates for "at least a couple of meetings" and its removal marks the next step on the path to normalising monetary policy.
Nonetheless, the FOMC sent mixed signals. Although it could raise interest rates as early as June – it explicitly rules
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