Inflation Progress Stalled, But No Hike Coming

Dan North | April 2024

As widely expected, the Federal Reserve left the overnight fed funds interest rate unchanged in the range of 5.25% to 5.50%.

The Fed’s statement accompanying the decision had a slightly more hawkish (if not downright weary) tone than expected, inserting a new sentence: “In recent months, there has been a lack of further progress toward the Committee’s 2 percent inflation objective.”

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