Following its two-day meeting here, the Federal Open Market Committee has left its benchmark interest rates unchanged. The benchmark rate remains in a range between 1.25% and 1.5%.
In a statement following the conclusion of the meeting, the Fed said the economy is growing at “a solid rate” and that the job market is strengthening. Analysts have forecast the Fed will raise rates three times in 2018, and the strong outlook from the Fed will likely reinforce that view. Forecasters anticipate the three rate increases of 25 basis points each will push the benchmark range to 2%-2.25% by year-end.
The FOMC will meet next in late March.
When the Fed does meet in March it will do so with a new chairman, Jerome H. Powell, who will take the oath of office next week. The meeting was the last for Chair Janet Yellen, who became the first chair to complete a term without being appointed to a second one when President Trump nominated Powell for the job.
The FOMC will meet next in late March.
When the Fed does meet in March it will do so with a new chairman, Jerome H. Powell, who will take the oath of office next week. The meeting was the last for Chair Janet Yellen, who became the first chair to complete a term without being appointed to a second one when President Trump nominated Powell for the job.
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