(CNBC) The Federal Reserve held rates steady in June, keeping the benchmark funds rate at a range of 5% to 5.25%. However, the central bank’s dot plot indicated that two more hikes are ahead. At his press conference, Fed Chair Jerome Powell said that the central bank will consider the “cumulative” impact of rate increases at its future meetings. The Fed hasn’t yet made a decision on July’s policy move, he said.
Fed recap: Breaking down the market’s reaction to the Fed’s pause and all of Powell’s key comments
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