FOMC Meeting Leaves Rates Unchanged

The FMOC, the Federal Open Market Committee met today and released their decisions on monetary policy. The key interest rate of 0.25% is to remain unchanged. This rate means there should not any real change in the overnight borrowing rate in the country. The statement released alongside this announcement could not realistically be called a positive one. A more positive approach had been expected from the Federal Reserve in the wake of many positive indications about the economy in recent weeks. The statement promised the Fed would continue to invest housing debt into mortgage backed securities and said that the housing market...