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Economy in Brief
U.S. New Home Sales Decline While Prices Rise
New home sales declined 6.9% (+7.0% y/y) during April to 673,000 (SAAR)...
Kansas City Federal Reserve Factory Sector Index Remains Soft
The Kansas City Fed indicated that its index of regional manufacturing sector business activity eased to 4 in May from 5 in April...
U.S. Initial Unemployment Insurance Claims Slip
The labor market remains on a firm footing...
EMU PMI Ticks Higher As Manufacturing Continues to Contract
The EMU PMI remains weak in May at 51.6...
U.S. Mortgage Loan Refinancings Surge as Rates Steady
The MBA total Mortgage Applications Index gained 2.4% (15.4% y/y) during the week ending May 17...
by Tom Moeller July 26, 2017
At today's meeting of the Federal Open Market Committee, the targeted federal funds rate was held steady in a range of 1.00% to 1.25%. This followed two increases earlier this year.
Additionally, the Fed indicated that shrinking its bondholdings would begin "relatively soon."
The Fed expects moderate economic growth to continue and that inflation would stabilize near its two percent objective.
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 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|
| Federal Funds Rate Target | 1.00%-1.25% | 1.00%-1.25% | 0.40% | 0.13% | 0.09% | 0.11% |
