WASHINGTON–As expected, the Federal Open Market Committee concluded its March meeting here yesterday by leaving the target range for the federal funds rate unchanged at .75% to 1%.
In its official statement, the FOMC said data indicate that the labor market has continued to strengthen even as growth in economic activity slowed. “Job gains were solid, on average, in recent months, and the unemployment rate declined. Household spending rose only modestly, but the fundamentals underpinning the continued growth of consumption remained solid,” the Fed said. “Business fixed investment firmed. Inflation measured on a 12-month basis recently has been running close to the Committee's 2% longer-run objective. Excluding energy and food, consumer prices declined in March and inflation continued to run somewhat below 2%. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.”
The Committee said it views the slowing in growth during the first quarter as likely to be transitory and continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, labor market conditions will strengthen somewhat further, and inflation will stabilize around 2% over the medium term. Near-term risks to the economic outlook appear roughly balanced,
“Celebrating 25 Years of Service: Unite, Ignite, and Empower” “We train and support volunteer leaders of credit unions serving first responders to run stronger, more effective institutions.” “Great things happen when credit unions serving first responders come together. Our face-to-face and on-line interaction is the platform where collaboration begins, and GREAT ideas are generated.”
Subscribe to:
Post Comments (Atom)
Active Shooter - Unfortunately due to the recent workplace shooting it is a good time to review your Active shooter plan.
In light of the recent active shooter incident, we want to express our deepest condolences to the families of those who lost their loved one...
-
ALEXANDRIA, Va.—NCUA is making permanent pandemic-era rules governing Paycheck Protection Program loans, eliminating an unnecessary provis...
-
For credit unions that have been considering FedNow but have yet to move forward, the Federal Reserve has added a significant financial in...
-
Dear Colleagues, A New Congress. A Continued Mission. A Stronger Voice for First Responder Credit Unions. As the nation moves forward foll... -
WASHINGTON — Increasing the likelihood members and consumers will pay different prices for the same cars, the growing use of artificial inte...
-
WASHINGTON — Federal Reserve Chairman Kevin Warsh said the central bank will reduce the number of meetings at which it votes on interest r...
-
NCOFCU Directors Advisor The National Council of First Responder Credit Unions (NCOFCU) has introduced an exciting new membership benefit: t...
-
WASHINGTON–As expected, the Federal Reserve has adjourned its meeting here without raising rates, but it also indicated it could again do s...
-
WASHINGTON–While Federal Reserve officials indicated they remain open to the possibility of again raising rates, minutes released from the ...
-
In light of the recent active shooter incident, we want to express our deepest condolences to the families of those who lost their loved one...
No comments:
Post a Comment
Please no profanity or political comments.
Note: Only a member of this blog may post a comment.