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Federal Reserve predicts no rate increase until end of 2023

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On Wednesday the Federal Reserve said it wont be raising interest rates from their nearzero level for years. After a twoday policy meeting, the Fed released new projections in which 13 of 17 officials said they expect to keep rates near zero until 2023. A statement from the Fed said that it will maintain rates near zero until it sees evidence of a tight labour market and inflation on track to exceed 2 for a significant length of time. They set an enormously high bar to raise rates here. Thats the bottom line, former Fed economist Roberto Perli told The Wall Street Journal. US stocks fell back marginally later in the session following the news.