Federal Reserve Leaves Rates Unchanged, Announces No Major Overhauls to Easing
Following its meeting, today, the Federal Reserve announced that it would leave interest rates unchanged near 0%. The Fed reiterated that it will keep rates low through the end of 2014. FOMC voting members voted 9-1 for the decision.
The Fed said that inflation had picked up somewhat, with energy prices moving higher. Still, the Fed stated that inflation expectations had remained stable.
The Fed stated that growth will moderate and then pick up gradually, with the economy expanding at a moderate pace. The Fed stated that household spending was advancing but that the housing market remained depressed.
The Fed did not announce any no easing programs, but stated that they would reinvest their housing debt into Mortgage-Backed Securities. The Fed stated that it saw significant downside risks.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.