5 key takeaways from Fed Chair Jerome Powell’s press conference Wednesday

The Fed left its policy rate unchanged on Wednesday but surprised economists by forecasting 50 basis points in additional interest-rate hikes this year. That would bring the Fed’s benchmark rate up to a range of 5.5% to 5.75%.

Fed Chairman Jerome Powell said the decision to leave rates steady was a continuation of the process of slowing down policy moves after aggressive hikes last summer and fall.

He…