Federal Reserve Interest-Rate Decision-Live Analysis

As Fed Meets A Fixed Income Investing Approach

The 30-year bond, or the long bond, fell 9.1 basis points to 2.775%. The Dow Jones industrial average rose 0.4 percent to 21,328.47. The reasoning is that the policymakers will want more time to determine whether a slowdown in growth and inflation at the start of 2017 was indeed "transitory", as they described it in May, or the start of another slump that could lead the Fed to halt its rate hikes.

They forecast USA economic growth of 2.2 percent in 2017, an increase from the previous projection in March. The majority of Fed officials estimated in March that they would raise rates two more times this year. The central bank will release a statement and economic forecasts at 2 p.m. Consumer prices over the past 12 months rose by 1.9% in May, down from 2.2% in April. He billed his plan as a way to accelerate economic growth from the sluggish 2.1 percent annual rate of the past eight years. But the Fed maintained its forecast for three rate hikes next year.

NEW YORK, June 14 (Reuters) - U.S. stocks fell in volatile trading while the dollar pared losses on Wednesday after the Federal Reserve delivered a widely expected interest rate hike and announced it would begin cutting its huge holdings of bonds this year. Voting against the action was Neel Kashkari, who preferred at this meeting to maintain the existing target range for the federal funds rate.

"If retail sales again disappoint, it is going to make it very hard for the Fed to argue that they're going to raise rates into the second half of the year", he said.

In the wake of the financial crisis, the central bank added Treasury securities and mortgage-backed securities to its balance sheet.

As it stands, the consensus view is that the Federal Reserve will raise interest rates today and then once more in 2017.

Fed officials are wrapping up their two-day June meeting. The rate has been steadily increasing following a period of relatively low inflation in 2015 and is at its highest since April 2012. The Committee continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, and labor market conditions will strengthen somewhat further.

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The decision lifted the USA central bank's benchmark lending rate by a quarter percentage point to a target range of 1.00 percent to 1.25 percent as it proceeds with its first tightening cycle in more than a decade.

Asian shares turned mixed on Wednesday as investors everywhere awaited clarity on the Federal Reserve's future path for US policy after a likely rate rise later in the day.

Germany's DAX index is up 0.4 percent and Britain's FTSE 100 0.1 percent.

Moves elsewhere were also cautious with MSCI's broadest index of Asia-Pacific shares outside Japan up a fraction and Japan's Nikkei ahead by 0.1 per cent.

The New Zealand dollar slipped 0.2 percent to $0.7206 NZD=D4 after touching a low of $0.7200, moving away from the previous session's almost four-month high of $0.7228.

Worries about global growth and weakness in markets for the commodities they produce has weighed on commodity-linked currencies like the Aussie, kiwi and loonie.

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