Wednesday, April 28, 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.



All voting members of the FOMC voted for continuing the irresponsible Fed money printing.

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.


LOL, in its statement, the Fed called the current accelerating price inflation a transitory, even though they continue to pump massive amounts of money into the system.

From the statement:

 Inflation has risen, largely reflecting transitory factors... The Committee expects to maintain an accommodative stance of monetary policy...

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