US Federal Reserve shifts into wait-and-see mode as global markets tumble

In a statement after its two-day meeting last week, the Federal Reserve (Fed) said that it is "closely monitoring global economic and financial developments" while "assessing their implications for the labour market and inflation, and for the balance of risks to the outlook". The Fed in effect opened the door to a change in its outlook for the economy this year, and possibly a slower pace of interest rate hikes that would make a change in March less likely. The US central bank had to acknowledge diminishing expectations of global growth that have resulted in a sharp stock market sell-off,... This article is part of our premium content. Full story is available on Times of Malta Premium.

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