Fed holds and drops reference to global risks
FOMC says growth in economic activity has slowed but concerns about global developments have eased
The Federal Reserve held its policy rate on April 27 as widely expected, delivering a largely unchanged statement – though an earlier reference to the risks posed by global developments was notably absent.
Growth in economic activity "appears to have slowed", the Federal Open Market Committee (FOMC) said, but labour market conditions have continued to improve. Inflation is still "expected to remain low in the near term".
Compared with its March statement, the FOMC changed its assessment of
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