Fed holds rates steady, pares down statement to remove cutting bias (opens original article in a new tab)

The Fed kept interest rates unchanged, removed language suggesting future cuts, and shortened its policy statement. Officials adjusted projections to indicate a possible rate hike this year, with the median rate expected to rise to 3.8% by 2026.

• Fed holds rates steady at 3.5%-3.75%
• Removed language indicating bias toward future rate cuts
• Statement shortened to 130 words from 341