The Federal Reserve announced it's pausing interest-rate hikes at its Wednesday meeting.
This comes after 10 consecutive interest-rate increases in 15 months.
The Federal Open Market Committee (FOMC) announced it's holding interest rates steady at its Wednesday meeting, putting a pause on the central bank's 10 consecutive increases in 15 months.
"Without a meaningful downside surprise in both jobs and inflation, a final interest-rate hike remains in the cards for July."
Following the failures of Silicon Valley Bank and First Republic Bank, credit conditions tightened, in part pushing the Fed to skip this month's rate hike amid a lending pullback.
Persons:
—, Jerome Powell, Powell, Seema Shah, Shah, Thomas Simons, Simons, Marta Norton, Kathy Gramling, Gramling, Norton, there's, Price
Organizations:
Federal Reserve, Service, Market, Fed, Asset Management, Jefferies, Valley Bank, First Republic Bank, Morningstar Wealth's America, EY, Consumer, Morningstar Wealth, Norton