The Federal Reserve closed the door on a series of rapid rate hikes but opened the window a crack for rate hikes down the road.
In a statement released after the Fed held its target for short-term interest rates steady at 2%, the central bank sharpened its focus on inflation, saying that the risks posed to the economy by upward pressure on prices have increased.
The Fed statement generally matches the expectations of most Fed watchers, who had predicted the central bank would sharpen its inflation rhetoric without explicitly saying when rates would rise
Impact:
Gold futures expected to move higher after the Federal Reserve kept interest rates steady but raised concerns over inflation.
Regards,
Kamlesh Jogi
Commodity Analyst
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