The Federal Reserve Open Markets Committee has once again decided that there will be no adjustment of the benchmark federal funds rate, following its July 30 meeting. Rates have been at a range of 4.25 percent to 4.5 percent since December.“
The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent,” the FOMC said in a statement announcing the decision.
The decision was not, however, unanimous, with two members of the 12 members on the board, both appointed by President Trump, who “preferred to lower the target range for the federal funds rate by one quarter of a percentage point at this meeting.”
Source: Fed Doesn’t Budge on Interest Rates – Multi-Housing News
