Wednesday, May 3, 2017

Fed: No Rate Hike Today

As expected, the Federal Reserve left interest rates steady today at the end of a two-day meeting of its monetary policy group, the FOMC. The Fed funds rate target remains at 0.75% to 1.00%.

In its statement, the Fed said, "The Committee views the slowing in growth during the first quarter as likely to be transitory,"

The Fed went on to say, "inflation measured on a 12-month basis recently has been running close to the Committee's 2% longer-run objective," Keeping the possibility of a Fed rate hike on the table at the June 13-14 FOMC meeting.


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