The Federal Reserve Opens a New Window. cut interest rates on Wednesday for the first time since the start of the financial recession more than a decade ago, hoping to preserve the 11-year economic Opens a New Window. expansion from growing global uncertainties and the possibility of an impending slowdown.
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.