The Fed made clear that the rate hike was a tentative beginning to a "gradual" tightening cycle
Years of unprecedented stimulus has left the Fed swollen with $4.5 trillion in bonds
Janet Yellen is guiding the Federal Reserve towards its first rate rise in a decade armed with traditional economic models that some economists worry could fail her in a world of massive money printing and near zero rates.
Fed seen holding rates steady as investor confidence shakes
Strong currency and sagging oil prices are spooking policymakers.
At the same time, however, officials at the central bank lowered their projections for the long-run target interest rate, evidence of slightly diminished expectations for a nation climbing out of a severe crisis and struggling with demographic headwinds like declining labor force participation.
Some investors had speculated that the US central bank might put its plans on hold given the jitters overseas.
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