Fed holds rates steady, warns uncertainty has increased
The FOMC held rates steady at its May meeting, keeping its target rate in a range of 4.25 to 4.5%. In its statement, the committee cautioned that the "uncertainty about the economic outlook has increased further" and that "swings in net exports have affected the data," however, "recent indicators suggest that economic activity has continued to expand at a solid pace."
Yahoo Finance Federal Reserve Reporter Jennifer Schonberger reports the breaking details.
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