The Federal Reserve's Open Market Committee decided today to keep its target for the federal funds rate at 1 percent. The Fed did, however, change some of the wording in its policy statement, a move most analysts expected. Specifically, the Fed said it "believes that policy accommodation can be removed at a pace that is likely to be measured." Previously, it said it believed it could be patient in removing its policy accommodation. The evidence accumulated over the intermeeting period indicates that output is continuing to expand at a solid rate and hiring appears to have picked up, according to the Fed. It also said that "although incoming inflation data have moved somewhat higher, long-term inflation expectations appear to have remained well contained." The Fed said the upside and downs...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.