The Federal Reserve left its key interest rate unchanged Wednesday and projected no rate hikes in 2019, dramatically underscoring its plan to be "patient" about any further increases. It also said it will stop shrinking its bond portfolio in September, a step that should help hold down long-term interest rates. Fed officials expect economic growth of just 2.1 per cent this year, down from its previous projection of 2.3 per cent growth. Despite multiple reports about Trump's high expectations for growth, Powell says he was unfamiliar with the figures. That view is supported by the CME Group, which tracks trading in futures contracts on the Fed's benchmark rate.

Source: CBC News March 20, 2019 15:37 UTC