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Fed's Powell: July FOMC will be a 'live' meeting

Published 06/14/2023, 02:52 PM
Updated 06/14/2023, 02:59 PM
© Reuters. U.S. Federal Reserve Chairman Jerome Powell listens to a question during a press conference after the release of the Fed policy decision to keep interest rates unchanged, at the Federal Reserve in Washington, U.S, June 14, 2023. REUTERS/Kevin Lamarque

© Reuters. U.S. Federal Reserve Chairman Jerome Powell listens to a question during a press conference after the release of the Fed policy decision to keep interest rates unchanged, at the Federal Reserve in Washington, U.S, June 14, 2023. REUTERS/Kevin Lamarque

(Reuters) - Federal Reserve Chair Jerome Powell on Wednesday said the central bank's next rate-setting meeting in July would be a "live" meeting after officials chose to forego a rate hike in June.

Powell's remarks came after the Federal Open Market Committee left its benchmark rate at 5.00% to 5.25%, but officials' forecasts showed they expect another half a percentage point of increases by year end.

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