Fed holds rates
The Federal Reserve met expectations, announcing just moments ago that its target rate will remain unchanged.
The Fed acknowledged that the economy grew last quarter, but cited contractions in the labor markets and financial markets, as well as the housing slump as reasons for holding the Fed Funds target rate at an even 2 percent.
The Fed also addressed inflation as a significant concern and expects inflation to become more moderate later this year or early next year.
The Dow is up over 200 points today, but has not moved much since the Fed’s announcement.
Tags: Federal Reserve, inflation, target rateRelated Stories
POSTED IN: Economy, Federal Reserve, Market, News
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