Wednesday, March 17, 2021

BREAKING: Fed Holds Interest Rates Steady

As expected, the Federal Reserve Board at its just-ended two-day monetary policy committee meeting has decided to maintain the interest rates it controls at current levels.

The current Board directed rate for Fed funds is the target range of 0.0% and 0.25%.

Here is a look at the Effective Fed Funds rate over the last 5 years:

Click for larger view.

This is a developing story return to this post for updates.



The Fed is now forecasting that price inflation will hit 2.4% this year.


All voting members of the Fed Open Market Committee voted to continue the extraordinarily reckless money pumping that is required to keep interest rates at their current low levels:

Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Thomas I. Barkin; Raphael W. Bostic; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Mary C. Daly; Charles L. Evans; Randal K. Quarles; and Christopher J. Waller.


  1. RW-Do you know what the Fed's forecast for inflation was prior to today?

  2. Wait, what? There are actually rates of interest?
    Oh, sorry they are so small I could not see them.