Fed leaves rates the same but signals hikes coming

Washington • 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 “transitory.” The Fed’s pause in raising rates comes after it modestly lifted its benchmark short-...

Share this post