Breitbart Business Digest: Fed Says No To Imminent Rate Cuts

The Fed Fights Back
The Federal Reserve delivered a shock on Wednesday by announcing that it does not anticipate cutting rates until it gets more confident that inflation is moving toward two percent.

“The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent,” the Fed said in a statement released at the conclusion of its two-day monetary policy meeting.
While many anticipated that Fed chairman Jerome Powell would use his press conference to push back against the expectation for a March cut, the …