The Fed will keep its wait-and-see approach amid improvements to slowing economic growth.
In a widely expected move on Wednesday, the Federal Reserve left interest rates unchanged in the 1.5% to 1.75% range, while also indicating that changes to monetary policy would stay on hold for the time being—even as some Wall Street investors grow increasingly worried about the fast-spreading coronavirus from China.
Powell confirmed that the central bank would remain on the sidelines as it keeps an eye on economic developments and assesses the appropriate path of monetary policy moving forward.
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