Economy

Fed sees stronger economy, higher inflation, but no rate hikes

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The Federal Reserve on Wednesday sharply ramped up its expectations for economic growth but indicated that there are no interest rate hikes likely through 2023 despite an improving outlook and a turn this year to higher inflation.

As widely expected, the policymaking Federal Open Market Committee also voted to keep short-term borrowing rates steady near zero, while continuing an asset purchase program in which the central bank buys at least $120 billion of bonds a month.

The key changes came in how central bankers view the economic road ahead and what impact that could have on policy.

“Following a moderation in the pace of the recovery, indicators of economic activity and employment have…



Source cnbc.com

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