Federal Reserve Holds Rates Steady as Powell Cites Economic Stabilization and Inflation Progress

TLDR: Federal Reserve maintains current federal funds rate target range amid solid economic expansion trends  Chair Powell confirms labor market shows stabilization signs after period of previous volatility  Inflation has eased substantially from mid-2022 peaks but remains somewhat elevated above target  FOMC adopts meeting-by-meeting approach with no preset course for future monetary policy decisions   [...]

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