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FOMC Leaves Rates Unchanged |
| | | The Federal Reserve's Open Market Committee voted today to leave the Fed Funds rate unchanged at less than .25. This was in line with expectations, as futures trading indicated the vast majority of the market expected the Fed to act, or not act, exactly as it did. 
To learn more about what it means when the Fed raises rates, be sure to read Understanding the Fed Funds Rate versus the Discount Rate.
US Interest rates remain at historic lows, as American GDP in the first quarter of this year fell a whopping 6.1% over the previous year. Despite this bad news, the US stock market had gained over 150 points leading up to the announcement from the Fed.
US economic sentiment seems to be bolstered by the report from earlier this week that consumer confidence rose much more than expected in April.
Be sure to read thoughts on the FOMC statement.
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