Fed Holds Rates Steady, Seeks ‘Confidence’ on Inflation

 

 

Fed Holds Rates Steady, Seeks 'Confidence' on Inflation
U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve, Dec. 13, 2023 in Washington, DC. (Win McNamee/Getty Images)

The Federal Reserve left interest rates unchanged Wednesday but took a major step towards lowering them in coming months in a policy statement that tempered inflation concerns with other risks to the economy and dropped a longstanding reference to possible further hikes in borrowing costs.

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