The Federal Reserve did the expected today and is holding interest rates to the current range of 2.25 to 2.5 percent.
The expectation is now for a single rate increase in 2020 and none in 2021.
The central bank's new theme of patience and flexibility reflects its calming response since the start of the year to slow economic growth at home and abroad, a nervous stock market and persistently mild inflation. The Fed executed an abrupt pivot when it met in January by signaling that it no longer expected to raise rates anytime soon.
The shift toward a more hands-off Fed and away from a policy of steadily tightening credit has pleased investors and encouraged the view that the central bank is done raising rates for now and might even act this year to support rather than restrain the economy.
Here are some live reports and reaction from the Fed meeting:
Balance Sheet Normalization Principles and Plans: http://go.usa.gov/xEeqP
Balance Sheet Normalization Principles and Plans
In light of its discussions at previous meetings and the progress in normalizing the size of the Federal Reserve's securities holdings and the level of reserve