Global| Nov 02 2016FOMC Leaves Fed Funds Rate Unchanged; Inflation Measures Strengthen
by:Tom Moeller
|in:Economy in Brief
Summary
At today's meeting of the Federal Open Market Committee, the fed funds rate was left unchanged in the range of 0.25%-0.50%, as expected. The meeting minutes continued to focus on price inflation. Overall inflation has remained below [...]
At today's meeting of the Federal Open Market Committee, the fed funds rate was left unchanged in the range of 0.25%-0.50%, as expected.
The meeting minutes continued to focus on price inflation. Overall inflation has remained below the Fed's two percent objective, due to declines in energy & non-energy import prices. The recent strengthening in the core PCE price index suggests, however, that inflation remains a major issue for future policy debate.
Labor market strengthening with "solid" job gains was noted, while growth in overall economic activity picked up. Business fixed investment has been "soft."
Risks to the economic outlook appear to be evenly 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.
One Equation to Understand the Current Monetary Policy Debate from James Bullard, President & CEO, Federal Reserve Bank of St. Louis can be found here.
| Current | Last | 2015 | 2014 | 2013 | 2012 | |
|---|---|---|---|---|---|---|
| Federal Funds Rate, % (Target) | 0.25-0.50 | 0.25-0.50 | 0.13 | 0.09 | 0.11 | 0.14 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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