TORONTO — U.S. markets got a boost from the Federal Reserve’s latest interest rate announcement, moving higher in the afternoon while Canadian markets followed suit. The U.S.
TORONTO — U.S. markets got a boost from the Federal Reserve’s latest interest rate announcement, moving higher in the afternoon while Canadian markets followed suit.
The U.S. Federal Reserve held its key rate steady for the fifth consecutive meeting on Wednesday, a widely expected move. It also signalled that it still expects to cut three times in 2024 despite surprisingly strong inflation data at the start of the year, the same projection it gave a few months ago.
Fed chair Jerome Powell said at a news conference that while inflation has cooled considerably from its peak, it’s “still too high, ongoing progress in bringing it down is not assured and the path forward is uncertain.”
The S&P/TSX composite index closed up 185.13 points at…
