The Federal Reserve did not make any changes to interest rates after its July Federal Open Market Committee (FOMC) meeting on Wednesday, holding the federal funds rate in the 5.25% – 5.50% range — where it has been since last July.
It came as little surprise, as most economists and analysts targeted the September FOMC meeting, at the earliest, as the date when a drop in rates was most likely.
But, in its statement, the Federal Reserve cited positive progress toward its goal of stable prices, or 2% inflation, and maximum employment, saying the risks to achieving these goals “continue to move into better balance.” However, the committee remains attentive to risks on both sides, and acknowledges an uncertain economic outlook.
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