Economics
Powell Holds Dovish Line as Fed Signals Zero Rates Through 2023
- Central bank sees inflation settling back after jump this year
- Seven officials see higher rates in 2023, up from five before
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Federal Reserve Chair Jerome Powell and his colleagues continued to project near-zero interest rates at least through 2023 despite upgrading their U.S. economic outlook and the mounting inflation worries in financial markets.
The decision, which came on a volatile day for investors with Treasury yields surging ahead of the announcement, masked a growing number of officials who saw liftoff before then -- though Powell stressed this remains a minority view.