The Fed Moves

Northeast Equity Research, NE Equity, Ken Nagy, Ken Nagy CFA, asset manager, Chartered Financial Analyst, Boston Security Analysts Society, Retirement Solutions, College Funding, Tax Planning, Insurance, Foundations, Cash Flow Solutions, asset management, asset growth, financial goals, 401K Rollover, IRA Rollover, Retirement Income Solutions, Asset Management, Portfolio, Investment, preserve and grow your assets, Foundation investing, money managers on the north shore, money managers, Peabody MA

Federal Reserve officials decided on another quarter-point interest rate hike. The September 26 decision took the federal funds rate to a target range of 2.00-2.25%. Notably, the latest Federal Open Market Committee statement removed the word “accommodative,” symbolically shutting the door on the easy money era. In the press conference after that news release, though, Fed chairman Jerome Powell referred to the new funds rate level as “accommodative.” This was the central bank’s third rate move of 2018, and one more is widely expected in December. The FOMC now projects 3.1% growth for the economy in 2019, as opposed to the prior forecast of 2.8%.

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