Washington â¢ The Federal Reserve has left its benchmark interest rate at a still-low level near 1 percent while signaling that it expects a resilient U.S. economy and solid job market to justify higher rates later this year.
A statement the Fed issued Wednesday after its latest policy meeting noted that the economy slowed sharply during the January-March quarter but that it expects that slump to be âtransitory.â
The Fedâs pause in raising rates comes after it modestly lifted its benchmark short-...
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