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Fed Sees No Hike in 2019

Also plans September end to asset drawdown.

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Federal Reserve officials scaled back their projected interest-rate increases this year to zero and said they would end the drawdown of central bank bond holdings in September, sending benchmark Treasury yields to the lowest level in more than a year and bolstering market bets on a rate cut in 2019.

The median rate projection of Fed officials compared with two hikes in the December forecasts, which spooked investors at the time. In its statement following a two-day meeting in Washington, the Federal Open Market Committee (FOMC) repeated January language that it will be “patient” amid “global economic and financial developments and muted inflation pressures.”

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