Fed expected to pause on rates as meeting opens

The Federal Reserve (pictured) was expected to pause on its path toward launching a series of rate hikes as a two-day monetary policy meeting opened in Washington TuesdayThe Federal Reserve was expected to pause on its path toward launching a series of rate hikes as a two-day monetary policy meeting opened in Washington Tuesday. With the expected first Fed interest rate rise in nearly nine years already stirring turmoil in global markets, the Federal Open Market Committee will want to assess the US economy’s strength after a winter slowdown, and also not add to market stress with another possible Greek debt crisis looming. Fed Chair Janet Yellen had put the US central bank on course for a possible hike in the federal funds rate, locked at zero since 2008, as early as June. A signal for that had been anticipated at this week’s Federal Open Market Committee meeting.

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