decided to leave our policy interest rate unchanged and to continue to reduce our securities holdings, though, at a slower pace. However, in recent months, inflation has shown a lack of further progress toward our 2 percent objective, and we remain highly attentive to inflation risks. So far this year, the data have not given us that greater confidence. In particular, and as I noted earlier, readings on inflation have come in above expectations. It is likely that gaining such greater confidence will take longer than previously expected.

Source: New York Times May 01, 2024 22:46 UTC