Newsroom
April 27, 2016
FOMC leaves rate, policy unchanged
The Federal Open Market Committee today said it is leaving the federal funds target rate unchanged at a range of 0.25 to 0.5 percent and is making no policy changes this month.
The FOMC released this policy statement at the close of its two-day meeting today.
"The FOMC's decision to hold off on a rate hike was widely expected, as recent readings on consumer spending and inflation has been weak," said NAFCU President and CEO Dan Berger. "More importantly, uncertainty over the global economy has led policymakers to take a wait-and-see approach."
"All eyes shift to the next meeting in June, but in the absence of inflationary pressure, there is little urgency for the Fed to resume rate normalization," Berger added. The committee meets for another two-day policy-setting session June 14-15.
The FOMC raised the federal funds target rate to a range of 0.25 to 0.5 percent in December.
NAFCU's research team will issue a Macro Data Flash report this afternoon detailing the FOMC session.
The FOMC released this policy statement at the close of its two-day meeting today.
"The FOMC's decision to hold off on a rate hike was widely expected, as recent readings on consumer spending and inflation has been weak," said NAFCU President and CEO Dan Berger. "More importantly, uncertainty over the global economy has led policymakers to take a wait-and-see approach."
"All eyes shift to the next meeting in June, but in the absence of inflationary pressure, there is little urgency for the Fed to resume rate normalization," Berger added. The committee meets for another two-day policy-setting session June 14-15.
The FOMC raised the federal funds target rate to a range of 0.25 to 0.5 percent in December.
NAFCU's research team will issue a Macro Data Flash report this afternoon detailing the FOMC session.
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