Federal Reserve Signals Pause in Interest Rate Hikes
The Federal Reserve agreed unanimously today to leave overnight lending rates unchanged and indicates it is “patient” about further increases.
#economics
The Federal Reserve agreed unanimously today to leave overnight lending rates unchanged and indicates it is “patient” about further increases.
The decision reversed the central bank’s position in mid-December, when the Fed indicated that it would probably raise rates twice this year. The current rate is a range of 2.25%-2.50%. The Fed implemented four quarter-point increases in 2018.
Fed Chairman Jerome Powell explains that the justification for additional increases “has decreased somewhat” because of weakening consumer sentiment and slowing growth for the global economy.
Still, he says the Fed expects a “solid pace” of growth for the American economy. He also says the bank’s primary goal is to sustain economic expansion.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.