Category: progress
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FOMC Holds Rates Steady, Reiterates ‘Lack of Progress’ on Inflation
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As expected, the Federal Open Market Committee (FOMC) kept interest rates unchanged at 5.25-5.50% during its May meeting. However, US central bank officials agreed to slow the pace of reducing bond holdings on their balance sheet, leading to a slight easing of monetary policy. The Federal Open Market Committee kept…