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The Fed holds interest rates steady, reflecting moderate economic slowdown

Federal Reserve Board Chairman Jerome Powell speaks during a news conference on March 20, 2019 in Washington, DC. Powell said the Fed will not raise interest rates this quarter as was previously expected. Mark Wilson/Getty Images

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In a sharp turn from December’s forecasts, the Federal Reserve announced yesterday that it will hold short-term interest rates steady. The announcement comes amid signs of a slowing economy and weakening consumer and business spending. For workers and the housing market, however, the economy is still healthy.

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