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Economy in Brief

FOMC Leaves Interest Rates Unchanged
by Tom Moeller  May 1, 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 decision was expected in the Action Economics Forecast Survey.

The Fed stated that the labor market was "strong" and that the economy was growing at a "solid" rate. Growth in consumer demand and business investment were observed to have slowed.

On the pricing front, the Fed noted that total inflation and price gains, excluding food & energy, were running below the Fed's 2.0% target. Survey-based measures of long-term inflation expectations were little changed.

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

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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