Fed: All calendar references removed

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Jeff Cox        | @JeffCoxCNBCcom
3 Mins Ago



Following through on indications in March, the Federal Open Market Committee on Wednesday offered no changes to its zero interest rate policy.
Not only did it hike rates, it also removed all hints for what may lie ahead. Calendar references were removed completely from the post-meeting statement.

The FOMC indicated after its March meeting that a rate hike in April was unlikely. The U.S. central bank has kept its key funds rate anchored near zero since late-2008 to spark the economy during the financial crisis.

Officials have indicated a desire to raise rates at some point this year, with the market now anticipating a September increase.

The move came amid a struggling U.S. economy that barely registered any growth at all in the first three months of the year—a meager 0.2 percent increase in gross domestic product, thanks to a stubbornly frugal consumer, strengthening dollar and rough winter.

Financial markets have come to rely on the Fed's easing policies over the past six and a half years, and stocks were lower ahead of the FOMC statement release.

The committee noted some progress in the economy, halting though it may be.

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