Fed Leaves Interest Rates Unchangedby Tim Manni
As expected, The Federal Open Market Committee (FOMC) concluded their meeting today by leaving interest rates unchanged. The committee duly noted the inherent risk of inflation and the underproductive economy continues to have on current market conditions:
Inflation has been high, spurred by the earlier increases in the prices of energy and some other commodities, and some indicators of inflation expectations have been elevated. The Committee expects inflation to moderate later this year and next year, but the inflation outlook remains highly uncertain.
Although downside risks to growth remain, the upside risks to inflation are also of significant concern to the Committee. The Committee will continue to monitor economic and financial developments and will act as needed to promote sustainable economic growth and price stability.
The next FOMC meeting is scheduled for September 16.