Recent Updates
- US: BEA Auto Sales (May), Mfrs' Shipments Inventories & Orders (Apr), ADP Employment Report (May)
- US: US Sector PMI (May)
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- more updates...
Economy in Brief
U.S. ADP Nonfarm Private Payroll Declines Moderate During May
Nonfarm private payrolls during May declined 2.760 million (-16.6% y/y)...
Even Larger Decline in U.S. Factory Orders and Shipments in April
A second large factory orders decline led by durable goods...
U.S. Mortgage Loan Applications Now Down 39% from Early March High
Mortgage applications decreased 3.9% in week ending May 29...
Euro Area Unemployment Rate Falls; Italy's Rate Hits a 12-Year Low!
The data from Europe are eye opening...
U.S. Light Vehicle Sales Recover in May
Car & light truck sales both rise...
by Tom Moeller January 29, 2020
The Federal Reserve kept the target range for the Federal funds rate at 1.50%-to-1.75% at today's FOMC meeting. The lack of action was expected in the Action Economics Forecast Survey. The decision was unanimous amongst FOMC voters.
Few changes were made to the statement which accompanied today's decision.
The Fed continued to characterize economic and consumer spending growth as "moderate," along with "solid" job gains. Growth in business fixed invesment and exports was characterized as "poor."
Overall inflation was expected to return to the Fed's two percent objective after having been below that in 2019.
The press release for today's meeting can be found here.
| Current | Last | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|
| Federal Funds Rate Target | 1.50%-1.75% | 1.50%-1.75% | 2.16% | 1.83% | 1.00% | 0.40% |
