Citing elevated inflation and a strong labor market, the Federal Reserve indicated Wednesday that it plans to begin raising interest rates "soon."
The Fed left interest rates unchanged at near-zero levels as widely expected but said the Federal Open Market Committee expects "it will soon be appropriate to raise the target range for the federal funds rate."
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.