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Federal Reserve: No More Rate Hikes This Year
The Federal Reserve voted unanimously today not to raise interest rates through the end of 2019, citing a slowdown in the pace of U.S. economic growth.
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The Federal Reserve voted unanimously today not to raise interest rates through the end of 2019, citing a slowdown in the pace of U.S. economic growth.
The central bank had indicated in December it would make two small increases to the key overnight lending rate during the year. Rates have been slowly increasing from a low near zero percent two years ago.
But the Fed says U.S. economic growth has “slowed from its solid rate in the fourth quarter.” Today’s decision leaves the index rate at 2.25%-2.50%. The bank contemplates one increase in the rate sometime in 2020.
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