Fed Holds Rates Steady, Signals Cuts Not Imminent as Inflation Lags
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The Fed left interest rates unchanged and indicated cuts aren't imminent until inflation moves closer to 2% target.
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Fed Chair Jerome Powell said a rate cut is unlikely at March meeting, dashing hopes of many investors.
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Powell wasn't ready to declare victory on inflation, saying the Fed still has "ways to go."
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He was optimistic that falling inflation can coexist with a healthy job market.
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Economists warn that investors banking on imminent rate cuts could sell if disappointed, rocking markets.