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Fed Maintains Target Rate Range, No Rate Hike
Thursday, January 28, 2016 6:40 AM

In a statement following its latest two-day policy meeting today, the Federal Open Market Committee said it would maintain the target range for the federal funds rate at 0.25 percent to 0.5 percent, citing that it expects the economy to “evolve in a manner that will warrant only gradual increases in the federal funds rate.”

The Fed labeled the labor and housing markets as “improving,” but inflation continues to worry Fed policymakers. Still, they continue to stand behind the belief that low energy prices and the stifled international economy are “transitory” developments, and that inflation will eventually rise to its 2 percent target.

“The committee currently expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market indicators will continue to strengthen,” the Fed said.

The next meeting of the FOMC will take place March 15-16.