Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeNewsEconomyKey takeaways from Fed decision to hold rates steadyThe U.S. Federal Reserve sees core inflation at 3.3 per cent by end of 2026, up from 2.7 per cent forecast in MarchAuthor of the article:Last updated 2 hours ago You can save this article by registering for free here. Or sign-in if you have an account.The US Federal Reserve Building in Washington, DC, May 3, 2023. Photo by SAUL LOEB/AFP via Getty ImagesHere are key takeaways from the Federal Reserve’s interest-rate decision on Wednesday:Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorFederal Open Market Committee votes unanimously to leave its benchmark interest rate in a target range of 3.5 per cent-3.75 per cent“Dot plot” of rate projections shows officials split over whether to raise interest rates by the end of 2026, with nine of 18 officials pencilling in a rate hike and the median rate forecast drifting up to 3.75 per cent from 3.4 per cent in March; the median official saw rates falling to 3.6 per cent in 2027One Fed official did not submit any interest-rate projections; a second official withheld a rate forecast for 2028SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againMedian Fed official sees core inflation at 3.3 per cent by end of 2026, up from 2.7 per cent forecast in March; sees GDP growth of 2.2 per cent, compared with 2.4 per cent previouslyFed strips back policy statement, removing language on potential additional adjustments to interest rates and declaring “the committee will deliver price stability”Fed says “economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East,” adding that “productivity growth and capital investment are strong”Fed says job gains “have kept pace with the workforce, and the unemployment rate has changed little”; inflation remains elevated “in part reflecting supply shocks that have driven price increases in certain sectors, including energy”—With assistance from Enda Curran. 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