Federal Reserve officials on Wednesday downgraded their estimate for U.S. economic growth this year to just 2.1% amid a slowdown here and abroad — while signalling there will be no more interest rate hikes until 2020.
Federal Reserve Board Chairman Jerome H. Powell speaks at a press conference in January.
Fed officials said in a statement Wednesday after a two-day policy meeting that economic growth"has slowed from its solid rate" in the last three months of 2018., the Fed's statement was more downbeat than after its last meeting in January. Fed officials noted that recent economic indicators point to"slower growth" of household spending and a key type of business investment.
But that immediate economic boost now is fading and economists have been forecasting much slower growth this year despite repeated assurances from the White House that growth would reach 3% or higher in 2019 and for several years afterward. They downgraded their growth estimate for this year to 2.1% from the 2.3% projection made in December. And they now are expecting growth below 2% through 2021. Also in December, Fed officials had indicated there would be two 0.25-percentage-point hikes this year in the short-term federal funds rate, a benchmark for credit cards, auto loans and other short-term consumer lending.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Market sees nearly 50% chance of a Fed rate cut by the end of January 2020The fed funds futures market is assigning a 48.9 percent probability of at least one rate cut by Jan. 29.
और पढो »
As Democrats look to 2020, here's how the party is trying repair the damage of 2016The DNC's selection of Milwaukee to host the 2020 convention is the latest step in efforts to repair the damage from 2016.
और पढो »
Economy at 'very real risk' of falling into recession in late 2020, UCLA forecast saysThere's 'a very real risk' the national economy will skid into a recession in late 2020 after the current expansion that began a decade ago, the UCLA Anderson Forecast announced Wednesday.
और पढो »
California housing seen cooling further going into 2020: UCLA forecastWhile job growth and the California economy remain strong, weakness is apparent in the state's housing market and it is likely to cool further going into 2020, according to the latest UCLA Anderson Forecast released Wednesday.
और पढो »
How Beto O'Rourke went from punk drummer and nanny to 2020 presidential candidateHow Beto O'Rourke went from punk drummer and nanny to 2020 presidential candidate via CNBCMakeIt
और पढो »
Beto O'Rourke enters 2020 presidential race
और पढो »
Far-left ideas from AOC and some 2020 candidates are 'really dangerous': Ex-House GOP leader'I worry as an American about the direction of one of our two major parties going toward socialist,' says former congressman Eric Cantor.
और पढो »
Stacey Abrams, Joe Biden meet as both weigh 2020 decisionsFormer Vice President Joe Biden and Georgia Democrat Stacey Abrams are meeting privately Thursday in Washington as both weigh their political futures.
और पढो »
Beto O'Rourke to leap into 2020 Democratic presidential raceFormer Texas congressman Beto O'Rourke will launch his 2020 presidential bi...
और पढो »
'Draft Beto' grassroots group in California got early start that could help 2020 candidateEven before former Rep. Beto O'Rourke announced his formal 2020 presidential run Thursday, he enjoyed political support in California, where a draft movement has included supporters throughout the state.
और पढो »