Notes On The FOMC Minutes
FOMC maintained rates, as expected, stock market flat.
- Inflation is anticipated to remain near its recent low level in the near term, the Committee expects inflation to rise gradually toward 2% over the medium term as the labor market improves further and the transitory effects of earlier declines in energy and import prices dissipate
- The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2%objective over the medium term.
- Economic activity has been expanding moderately after having changed little during Q-1
- The decision was unanimous
The Fed gave no timetable for a rate hike but said it expects the economy’s gains to accelerate later this year. Many analysts say that if the economy keeps improving, the Fed will likely raise its key short-term rate in September. That rate has been held near Zero since Y 2008.
Stay tuned…
HeffX-LTN
Paul Ebeling
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