The Fed last hiked rates in December, its second increase in roughly a decade. And at the Fed's next meeting in mid-March, policymakers will provide an updated forecast on economic growth, unemployment and inflation, as well as new projections on future interest rate movements.
"Overall, the market seems relieved that there was nothing threatening in terms of the pace of hikes or shrinking the balance sheet", Tai Wong, director of commodity products trading at BMO Capital Markets in NY, said in an e-mail. Measures of consumer and business sentiment have improved of late.
However, the minutes of its December meeting showed that Fed officials were unsure about the pace of rate hikes this year due to uncertainty over the Trump administration's fiscal and other economic policies. The vote was 10-0 to stand pat.
The Fed began a low-interest rate policy in 2008 when it initially brought rates to zero. The Fed expects to raise rates three times in 2017. Yet confusion and a lack of details over what exactly Trump's stimulus program will look like, whether he will succeed in getting it through Congress and what impact it might have on the economy have muddied the outlook.
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The Coast Guard dispatched a boat and helicopter crew to search for Stewart. "This is unbelievable ", Stewart said at the time. Islamorada belongs to the Florida Keys, an archipelago extending from the state's southern tip and ending at Key West.
What's more, even though inflation has picked up recently, most economists don't see a threat of runaway prices, thanks to inflation-restraining forces that include the strong dollar, moderate global growth and commodity prices.
Even though economic growth, as measured by the gross domestic product, was underwhelming past year, the job market appears close to full health. Economists say lower rates tend to stimulate economic growth, which can drive up inflation, while higher rates help to lower inflation while boosting yields for bonds and savings accounts.
American manufacturing has been showing tentative signs of a comeback.
There was some speculation of better commentary on business investment.