No rate hike expected as FOMC begins two-day meeting

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.

Following the FOMC’s meeting in December, committee members pared its projection for 2019 from three rate hikes to just two.

 

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