The Federal Reserve signaled that it is unlikely to raise rates again this year, sharply reversing its outlook from just three months ago. In December, 15 of the 17 members of the Federal Open Market Committee (FOMC) projected the target range for the federal funds rate would end the year higher than its current 2.25% to 2.50% band. The projections released on Wednesday, March 20, showed that 11 of the 17 members projected that the current range would remain in place throughout 2019.

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