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.
-RW
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