(Worthy News) - The Federal Open Market Committee (FOMC) concluded its meeting at 2 PM ET today and announced that the Federal Reserve would not raise fed fund rates. The revised dot plot—which records individual committee members' projections for where interest rates will be at year-end—indicated that the Fed will pause any further rate hikes until 2020.
Nine members moved their dots to predict zero hikes in 2019, joining two members who already shared that dovish view.
The decision to pause rate increases comes amid a significant downward revision to gross domestic product (GDP) growth projections: the Fed said it now expects the U.S. economy to grow at a rate of 2.1 percent this year, lower than the 2.3 percent it had projected at the December meeting. [ Source: Yahoo (Read More...) ]
Copyright 1999-2019 Worthy News. All rights reserved.
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
