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Added on the 16/12/2015 23:01:30 - Copyright : Reuters EN
The S&P 500 had its best day of the year after a wording change in the central bank's policy statement- betting a rate hike won't come too soon. Bobbi Rebell reports.
"A decision on a pause was not made today," Fed Chair Jerome Powell says during a press conference when asked whether the US Federal Reserve has made the decision to pause rate hikes. SOUNDBITE
US Federal Reserve Chair Jerome Powell announces a 0.25 percentage point increase in interest rates, but signals that the battle to rein in inflation is not yet over. "We continue to anticipate that ongoing increases will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time," Powell tells reporters at a news conference. SOUNDBITE
The Fed predicts a 5.2 percent rate of inflation, as measured by the personal consumption expenditures price index, before falling rapidly to 2.6 percent next year and 2.2 percent in 2024, Chair Jerome Powell says during a press conference. SOUNDBITE
Facebook mobile advertising soared, lifting results. The Fed kept interest rates steady, and stocks lost ground. Bobbi Rebell reports.
Workers returning to the labor force in unexpected numbers and landing jobs could slow the Fed's timing in raising interest rates. Conway Gittens reports.