The Federal Reserve foresees the economy accelerating quickly this year yet still expects to keep its benchmark interest rate pinned near zero through 2023, despite concerns in financial markets about potentially higher inflation.

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The Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but suggested it may not cut rates any further this year.

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The Federal Reserve took note of the U.S.'s resilient economy on Wednesday by raising the country's benchmark interest rate for the second time this year and signaling that it may accelerate its pace of rate increases.

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The Federal Reserve is all but sure to leave interest rates unchanged this week, although steady economic growth and inflationary pressures are likely to keep the Fed on a path toward further rate hikes later this year.

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Federal Reserve Chair Janet Yellen told Congress on Wednesday that the Fed is carefully watching a recent slowdown in inflation and that, if it persists, it could lead the central bank to rethink its plans on rate hikes.

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The Federal Reserve is figuring out when to start unloading much of its $4.5 trillion in bond holdings — marking a turning point for an economy still recovering from the 2008 financial crisis.

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Banks may be allowed to hold a smaller stake in the mortgage investments they sell if those loans are made to homebuyers with stronger finances.

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The Federal Reserve is extending a program designed to drive down long-term interest rates to spur borrowing and spending.

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A Federal Reserve survey released Wednesday found that the economy grew moderately in most regions of the country this spring and companies continued to hire.

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The number of Americans who bought previously occupied homes rose last month. But the National Association of Realtors said it overstated more than 3 million sales during and after the Great Recession, showing the housing market was weaker than previously thought.

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