What Today’s FOMC Meeting Statement Told Us

Jon Banking, Economy, Fiscal Policies, Government, Market Commentary

There was no big surprise from the FOMC meeting statement today after the U. S. Federal Reserve ended its closely watched two-day policy meeting.
As widely expected, the Fed left interest rates unchanged. Heading into the meeting, market odds of a rate hike at today’s Fed gathering were just 7.2%, according to CME Group’s FedWatch Tool.
Here are the key highlights from the November FOMC meeting…
FOMC Meeting Statement’s Biggest Takeaways
Policymakers decided to maintain the target range for the federal funds rate at 0.25% to 0.50%. The case for an interest rate hike has increased. But the U. S. central bank has decided to wait for more evidence of continued progress toward its full employment and inflation objectives. The Fed’s monetary policy stance remains accommodative. It wants to support further improvement in the labor market and an inflation rate of 2%.

This post was published at Wall Street Examiner by Diane Alter ‘ November 2, 2016.