Janet Yellen and the Federal Reserve’s Federal Open Market Committee (FOMC) have not made any change in interest rates. Again. While that no-change was expected, there just wasn’t really any serious rate hike scare in the statement beyond a strong labor market. It is almost as if Yellen and the Fed are keeping the door open to not starting the interest rate hike cycle until after 2015 or at least very late in the year rather than the September/October timeline.
One more hawkish tone came around the current employment situation having improved. Still, the overall tone remains very dovish. in fact, the vote was 10 to 0 to keep the Fed Funds at the never-ending 0.00% to 0.25% target.
Also, the first formal rate hike is expected to only go to 0.25% — not even up to 0.50%. Now investors have to stomach there not being a press conference after…
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