The Fed leaves interest rates unchanged. The cost of money remains on a fork between 2.25% and 2.50%. The Fed also confirms the growth estimates for the US economy in 2019, when GDP is expected to rise 2.1%. The projection for 2020 has been revised upward to 2.0% from 1.9% in March.
In the face of inflation, the Fed is revising its estimates for this year and next. In 2019, it is estimated to reach 1.8%, compared to 2.0% in March, while in 2020 it was 1.9%, compared to 2.0% in the previous estimate.
Uncertainties increased: "we will follow closely "the information that will arrive and" we will act in an appropriate way"to support economic expansion.The Fed said at the end of the two-day meeting.
The word "patient"disappears from the final communiqué of the Fed's two-day meeting, opening – according to analysts – a possible next cut in interest rates.
The Fed divided into rates. Eight of the members of the FOMC, the US central bank's executive arm, expect a rate cut in 2019, compared with eight others estimating rates unchanged.
Only one member expects the cost of money to increase. This is what emerges from the tables, the so-called "point plots," which accompany the final communiqué with the generalized monetary policy decisions at the end of the two-day meeting.
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