Fed expected to hold rates steady as Brexit vote clouds outlook

16 Jun 2016   Economy, USA

The Federal Reserve is expected to keep interest rates unchanged on Wednesday and signal if it still plans to raise rates twice in 2016 amid concerns about a U.S. hiring slowdown and Britain’s possible exit from the European Union. The Fed raised its key overnight lending rate in December for the first time in nearly a decade, but it has backed away from further monetary policy tightening this year largely due to a global economic slowdown and financial market volatility. The U.S. central bank is scheduled to issue its latest policy statement and updated economic projections following a two-day meeting at 2 p.m. EDT (1800 GMT). Fed Chair Janet Yellen will hold a news conference half an hour […]

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