Fed holds line on rates, says no more hikes ahead this year


And in a world filled with uncertainties that Federal Reserve gave us one less thing to worry about this week to no one's surprise. The fed kept interest rates unchanged. But came across as more dovish than most were expecting Federal Reserve chairman Jerome Powell indicated that they are unlikely to raise rates again this year, and maybe nearly finished with a series of increases they began within three years ago. In response. Stocks climbed briefly to their highest levels for the year and the bond market rallied higher across all maturities, the benchmark ten year treasury bond yield declined to two and a half percent. A new low for the year at a big positive for the housing market since mortgage rates loosely. Follow the ten year yield and mortgage rates fell sharply this week to their lowest level in fifth. Fifty two weeks in some the feds may name appears to be to do. No harm to the economy. The chairman pelvis was in a quote, good place unquote, while inflation continues to run below its two percent target. And in the absence of a sharp economic slowdown, which the fed doesn't see in the cards their forecast for gross domestic product growth was trained to two point one percent down from two point three percent while it's predicting growth of one point nine percent. Twenty twenty the Federal Reserve chairman recent actions are reminiscent of a previous chairman Alan Greenspan whose actions during his reign in the ninety s repoprtedly known as the Greenspan put leading investors to believe that whenever stormclouds appeared in the economy. The fed would come to the rescue with loose monetary policy. Do we now have a pal put well, a time will

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