The Fed's monetary-policy committee voted to keep the benchmark U.S. interest rate at 2.25% to 2.5%, but warned of risks to the U.S. economy and dropped a pledge to remain 'patient' on future rate cuts.
Commodity prices are highly influenced by action in the currency markets which will undoubtedly have something to say about the Federal Reserve meeting.
The Trump administration actively explored taking legal action to demote Federal Reserve Chairman Jerome Powell, an extraordinary and unorthodox move that calls into question the White House's perception of the central bank's independence - and track record.
The Federal Reserve's monetary-policy committee, after a two-day meeting that culminates on Wednesday, is likely to scrap a pledge for 'patience' on setting interest rates, paving a way for a rate reduction in July, according to economists at Deutsche Bank.
Builders started 1.269 million new home-construction projects during May, the Census Bureau says, down from the prior month's 1.29 million. But the figure for housing starts still exceeded Wall Street expectations for 1.245 million new projects in May.
There's a lot going on right now and the markets (and media) have difficulty latching on to more than three or four stories at a time.
Wall Street economists project that the U.S. economy will slow to 2.2% this year from 2.9% in 2018, causing President Donald Trump's administration to fall short of its pledge of 3% growth. But all that could change if the president terminates his trade war -- and it's largely within his control.
The longer the Fed waits to cut, the lower rates will ultimately go, but so far there's little hint of action to come.
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