Fed officials have voted unanimously to hold interest rates steady, and indicated that no more hikes will happen in 2019. In December, Committee members estimated that there would be two rate hikes in 2019 after four in the previous year. In a post-meeting statement, the Federal Open Market Committee said it would remain “patient” before adopting any further increases.
The Fed currently holds its funds rate at a range of 2.25 to 2.5 percent and there appears to be no likelihood of an increase unless economic conditions change significantly. The decision came after reduced expectations in GDP growth and inflation, and a higher unemployment rate outlook.