Federal Reserve signals steady interest rates as downside risks to U.S. economy have lessened
The Federal Reserve believes that risks to the U.S. economy have lessened with the easing of trade tensions and better prospects for global growth, but officials note a concern that possible spillovers from a deadly virus in China represent a new threat.
The Fed said after quarter-point interest rate cuts at the July, September and October meetings, it viewed the present level of interest rates to be “appropriate to support sustained expansion of economic activity” and a strong labor market and inflation rising to the Fed’s 2% target. Generally, the report provided an upbeat assessment of economic prospects, noting that risks to the U.S. economy had receded in the latter part of 2019 with the announcement of aIn addition, the Fed said a slowdown in global growth, which had dragged down U.S. manufacturing, appeared to be leveling off and that financial market conditions had improved, led by a rebound in the stock market.But the report cautioned, “The recent emergence of the coronavirus ...
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