Fed leaves interest rates alone -- for now

  • The Board of Governors of the Federal Reserve System and the Federal Open Market Committee (FOMC) today voted to leave the key federal funds rate unchanged.
  • According to the Fed’s economic projections, economic growth is expected to increase from 1.9 percent to 2.1 percent, and the unemployment rate may fall slightly from 5.1 percent to 5 percent.
  • There may still be a rate hike before the end of the year, the Fed said, and such an announcement will come in October or December, when the FOMC meets next.

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Putting to rest months of anticipation that it would raise interest rates this fall, the Board of Governors of the Federal Reserve System and the Federal Open Market Committee (FOMC) today voted to leave the key federal funds rate unchanged — but many housing industry and economic analysts, as well as potential homebuyers, seem to be shrugging their shoulders at all of the hoopla.