The Federal Reserve on Wednesday paused its recent string of interest rate cuts, holding benchmark rates steady at a range of 4.25% to 4.5%. The move was widely expected considering recent employment and inflation data showing that the U.S. economy continues to run hot.
Market analysts were nearly unanimous heading into the day that the Fed would pause its rate-cutting cycle that began in September when it lowered the policy range by 50 basis points (bps). The cuts continued with a pair of 25-bps decreases in November and December.
“The Fed’s pause on rate cuts details ⇒
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