As widely expected, the FOMC held monetary policy steady today, leaving the target for the federal funds rate in a range of 2.25% to 2.50%. Economic activity has now slowed according to the FOMC statement with reduced household and business spending. Inflation has also slowed largely as a result of lower energy prices. - - Given the changes in the outlook, the majority of Committee members project no rates hikes this year and possibly through 2021. Projections also showed the end of quantitative tightening in October this year. To support the economic expansion this year and into next, it appears as though the Fed is ending the current tightening cycle. • • • • • #economic #economicfocus #FOMC #monetary #policy #claim #monetarypolicy #federalfunds #murrieta+title #murrieta+titleinsurance #murrieta+ticortitle #murrieta+thegalantegroup #murrieta+economy #murrieta #murrieta+policy #murrieta+claim #murrieta+cycle #murrieta+money #murrieta+realestate #murrieta+broker #murrieta+lender
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