May 23, 2019

The Fed has no plans to raise rates, even if the economy improves

The Federal Reserve plans to remain "patient" in determining future interest rates moves, even if "global economic and financial conditions continued to improve," according to minutes released Wednesday of the Fed's most recent meeting. They did not raise or lower interest rates at that meeting, despite pressure from President Trump to lower them.

Why it matters: The U.S. economy has been humming along — with solid job gains, low unemployment and receding "uncertainties affecting the U.S. and global economic outlooks," per the meeting minutes — but the market is still betting that the central bank will cut rates before the end of the year, not raise them.

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