30 Second Update:  Federal Reserve Leaves Rates Unchanged


The Federal Reserve, in its November meeting, has left their benchmark interest rates unchanged.  The Federal Open Market Committee, unanimously approved keeping the federal funds rate in a range of 2 percent to 2.25 percent. However, the Fed is expected to increase that range by a quarter percentage point at their next meeting taking place on December 18th and 19th. Many economists are also forecasting a quarter percentage rate hike in each quarter of 2019.  If that were to happen, the benchmark interest rate will reach 3 percent, which is the level the Fed regards as neutral.  Supporting their forecasts and rationale for raising rates, the U.S. Central Bank went on to say, “the labor market has continued to strengthen, and economic activity has been rising at a strong rate. 

Did you know?...

The Fed decides how much money should be printed annually. In 2010, $974 million was printed. In contrast, $30 billion of Monopoly board-game money is printed each year.