Fed Holds Rates Steady Amid Uncertainty
February 6, 2020
As the United States rounds the corner into the new decade, the economy continues to churn. But even though the domestic markets are performing well, the global markets are being affected by political turmoil, potential pandemic, and varying delays and stoppages in the supply chains of some of the worlds largest companies. For this reason, the Federal Reserve has shifted into a wait-and-see approach after cutting rates three times in 2019. Last year, the Federal Reserve vowed to stand firm on their rates barring a major economic change; in their meeting on Wednesday, it became apparent that they had done exactly that. Federal Reserve chair Jerome Powell maintained the institution’s
