Fed Holds Rates Steady and Stays on Track for June Increase

FILE-- Jerome Powell, chairman of the Federal Reserve, testifies before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, March 1, 2018. The Fed is expected to hold interest rates steady at the conclusion of its two-day policy meeting on May 2, but it will still be a closely watched event as investors and policymakers look for clues about whether the it plans to raise rates more quickly than previously telegraphed. (Erin Schaff/The New York Times)