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Economy in Brief

FOMC Leaves Interest Rates Unchanged
by Tom Moeller  January 30, 2019

The Federal Open Market Committee voted unanimously at today's meeting to leave the federal funds rate target in a range between 2.25% and 2.50%. The action was expected in the Action Economics Forecast Survey. The Fed indicated after the meeting that it "will be patient" in determining what future action will be needed.

The Fed continued to indicate that economic activity has been rising at a "solid" rate and that job gains have been "strong." It noted that consumer spending has been strong, but business fixed investment growth had "moderated."

On the inflation front, it was noted that overall and "core" consumer price inflation were running near the targeted two percent rate.

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

The Action Economics Forecast Survey can be found in the AS1REPNA database. Haver's SURVEYS database contains the economic projections from the FOMC.

Current Last 2018 2017 2016 2015
Federal Funds Rate Target 2.25% - 2.50% 2.25% - 2.50% 1.82% 1.00% 0.40% 0.13
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