The Federal Reserve has released its highly anticipated statement on how soon it plans to tighten monetary policy. It put a June interest rate rise on the table though allowed enough flexibility to move later. <br /><br /> The decision ends the US central bank’s pledge to be patient in normalising monetary policy. In its statement, following a two-day meeting the Fed’s policy-setting committee repeated its view that job market conditions had improved so giving its strongest hint yet that it was nearing its first rate hike since 2006.<br /><br /> The bank said it would move, “ when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its two percent objective over the medium-term.” <br /><br /> The bank had to weigh up if the American economy can hold up against collapsing oil prices and a soaring dollar.<br /><br /> Wall Street pared losses and the euro rose 1.069 against the dollar after the announcement.
