Fed Nixes Interest Rate Hike in May Meeting
Posted by Florida Realty Marketplace on
After a two-day meeting, the Federal Open Market Committee has opted to keep the federal funds interest rate as-is—a surprise to many, given the widely held assumption that not one, but two more rate hikes were on the agenda for 2017.
According to the Federal Reserve, the improving labor market, moderate job gains, a lower unemployment rate, and steady inflation all factored into the Committee’s decision.
A statement from the Federal Reserve said: “In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 3/4 to 1 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a…
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