The post-meeting statement of the Federal Reserve’s Federal Open Market Committee indicated that while the Fed is considering raising its target rate as early as June, the agency is in no hurry to cast anything in cement. The statement cited stronger labor markets and low unemployment rates as encouraging, but noted that FOMC members remain concerned about economic growth due to low inflation failing to meet the FOMC goal of two percent.
Fed Not in a Hurry to Raise Rates: FOMC Meeting Minutes
Federal Open Market Committee policymakers are in no hurry to raise the target federal funds rate. Members said that raising rates too soon could swamp the strengthening economy and expressed concerns that changing the committeeâs current “patient” stance on rising rates could cause more harm than good to current economic conditions.
FOMC Minutes: Low Inflation Rates Won’t Delay Rate Hikes
The minutes of the Fedâs Federal Open Market Committee (FOMC) indicate that Fed policymakers arenât concerned about low inflation rates as an obstacle to raising the target federal funds rate.
What’s Ahead For Mortgage Rates This Week – December 22, 2014
Last week’s scheduled economic events were few but informative. Housing related reports included the National Association of Home Builders/Wells Fargo Housing Market Index for December, which stayed close to a nine-year high reading of 59 in September. December’s reading was 57 and fell two points shy of the expected reading of 59.
FOMC Statement: No Year-End Surprises
The Federal Open Market Committee (FOMC) said in its last statement for 2014 that although economic conditions have improved at a moderate pace, the Fed believes that the target federal funds rate of between 0.00 and 0.25 percent remains “appropriate.” While labor markets show expanding job growth and lower unemployment rates, FOMC members noted that housing markets are recovering slowly.
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