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US central bank confirms it is as uncertain on economic outlook as everyone else
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The US Fed keeps interest rates steady, but turns gloomier about the economy.
PHOTO: REUTERS
SINGAPORE – The US Federal Reserve has kept interest rates on hold and eased worries about an impending recession but it could not hide its concerns over President Donald Trump’s economic policies.
The survey of central bank officials that accompanied the March 19 rate decision pointed to the high level of uncertainty around the estimates on growth, inflation and unemployment that underpin their policy settings.
Indeed, these levels of uncertainty were the highest in two decades.
