Fed keeps rate near one percent as it signals hikes coming
The Federal Reserve holds the benchmark rate near 1 percent after a policy meeting noting a slowing first quarter but expecting the economy to rebound. Officials foresee two more rate increases this year while the balance sheet reduction plan remains on hold until hikes begin.
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Wall Street mixed as Fed holds rates and jobs data spark bets
U.S. stocks fell as media and health care shares dropped while Apple retreated on softer iPhone sales. The Fed left rates unchanged but signaled faster growth and potential June raises, lifting bank stocks. ADP reported 177,000 April U.S. job gains with government data expected Friday, as Apple earmarks 1 billion for U.S. manufacturing.
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