Fed Takes Out “Patient” About Rate Hikes; Says Rate Hike At April Meeting Unlikely

feddcToday the Federal Reserve concluded their 2 day March FOMC meeting and released a policy statement that removed the “patient” word which was used to indicate a longer time frame for hiking interest rates.

Although the “patient” word was removed from their statement, Fed members telegraphed to the market that an interest rate hike “remains unlikely” at their next policy meeting in April as the U.S. central bank awaits for further improvement in the labor market and a rebound in inflation to increase rates.

“Consistent with its previous statement, the Committee judges that an increase in the target range for the federal funds rate remains unlikely at the April FOMC meeting” the statement reads.

“The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term”

-Johnathan Schweitzer

 

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