As expected by economists, the Federal Open Market Committee today voted unanimously to hold the target range for the federal funds rate steady at 1.5% to 1.75%.
The U.S. economy is well-positioned at the start of 2020, with unemployment at a 50-year low, “solid” GDP growth and wages rising in line with productivity growth, Federal Reserve Vice Chairman Richard Clarida said today in New York.
A strong labor market, moderate GDP growth and inflation below 2% factored into the Federal Open Market Committee’s decision at its latest meeting to maintain the federal funds rate in a target range of 1.5-1.75%, according to minutes released today.
At its final meeting of 2019, more than three-quarters of Federal Open Market Committee participants expected no rate hikes in 2020.
Concerns about a slowdown in global growth and trade uncertainties remained prominent factors in the Federal Open Market Committee’s decision to cut interest rates by 25 basis points at the last FOMC meeting, according to minutes released yesterday.
The Federal Open Market Committee announced yesterday that it would cut interest rates for the third time this year.
Recent money market conditions that have seen the Federal Reserve resume regular repo operations for the first time in years should not delay market participants’ preparations to transition away from the London Interbank Offered Rate, New York Fed President and CEO John Williams said today.
The Federal Open Market Committee (FOMC) highlighted growing concern over economic developments that could dampen…
Structural issues in the repo market led to last week’s market turbulence.