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Economy in Brief

FOMC Holds Rates Steady
by Tom Moeller  February 1, 2017

At today's meeting of the Federal Open Market Committee, the targeted fed funds rate was left unchanged in a range between 0.50% and 0.75%. It remained the highest target since the end of 2008.

The Fed continued to indicate that job gains remain solid, household spending is rising moderately and business investment remains soft.

As for inflation, the Fed noted that while inflation has picked up recently, it remains below their 2 percent long-term objective.

The Fed continues to expect moderate economic growth, labor market strengthening and inflation to rise to 2 percent over the medium term. Risks to this outlook appeared balanced.

The press release for today's FOMC meeting can be found here.

Haver's SURVEYS database contains the economic projections from the Federal Reserve Board.

Current Last 2015 2014 2013 2012
Federal Funds Rate Target 0.50%-0.75% 0.50%-0.75% 0.13% 0.09% 0.11% 0.14%
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