(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...) ]
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