The Federal Open Market Committee (FOMC), the Federal Reserve’s monetary policy-setting arm, begins a two-day meeting today, which is not expected to end with a rate hike.
The committee last raised the federal funds target rate to the current range of 2.25 to 2.5 percent at the end of its December meeting, the fourth rate hike of 2018.
The committee previously pared its projection for 2019 from three rate hikes to just two. NAFCU Chief Economist and Vice President of Research Curt Long, following January’s meeting, predicted that there would be no more than one rate hike in 2019.
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