Fed Keeps Benchmark Rate Unchanged

The video discusses the Federal Reserve's decision to scale back its rate hike plan, reducing the expected increase to half a percentage point by the end of the year. This marks a significant change from the full point increase anticipated in December. The shift is attributed to external economic factors posing risks to the US economy. The Fed's statement highlights a moderate pace of economic activity and strengthening labor market indicators, while acknowledging global economic and financial developments as potential risks.

What is the key phrase mentioned regarding global economic developments?

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What was the immediate reading from the FOMC policy statement?

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