Wednesday, September 21, 2016

Fed Leaves Interest Rates Unchanged

At its just concluded monetary policy meeting, the Federal Reserve's FOMC has chosen to leave the interest rates it controls unchanged.

This was not unexpected.

-RW

UPDATE 1

The vote was 7-3 to leave interest rates unchanged.

UPDATE 2

In its statement, the Fed policy committee said “the case for an increase in the federal funds rate has strengthened but decided, for the time being to wait for further evidence of continued progress toward its objectives.”

UPDATE 3

The 3 dissents were all regional presidents — Esther George, Loretta Mester and Eric Rosengren.

UPDATE 4

The full text of the FOMC statement is here.

6 comments:

  1. What would happen if the vote was 5-5?

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  2. So much for the four rate hikes in 2016.

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    Replies
    1. Time is running out on the Fed's John "5 rate hikes in 2016" Williams. Don't worry, though, Goldman just raised its percentage for a December hike to 41.5%. /s

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  3. They will hike into the recession after Trump is elected and he will get blamed for the resulting depression. ;-)

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  4. At least Yellen is having to answer El Trumpo's charge that the Fed's decisions are political.

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  5. Robert, I think you're forgetting that the Fed is a political organization, and economics is simply the fa├žade it hides behind.

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