Fed leave sits key rate as is, hints at future cuts
Associated Press

     The Federal Reserve left its key interest rate unchanged Wednesday but signaled it's prepared to start cutting rates if needed to protect the U.S. economy from trade conflicts and other threats.

     The Fed kept its benchmark rate - which influences many consumer and business loans - in a range of 2.25% to 2.5%, where it's been since December.

     It issued a statement saying that because "uncertainties" have increased, it would "act as appropriate to sustain the expansion."

In its statement Wednesday, the Fed removed a reference to being "patient" about adjusting rates.  That suggested the central bank is now inclined to begin cutting rates for the first time in more than a decade.

Latest Mortgage News