On Wednesday, as a round-up to the banking group’s quarterly meetings, Federal Reserve Chairman Jerome Powell announced that the Federal Open Market Committee (FOMC) would forgo making any change to the interest rate for the fourth time in a row.
“Today, the FOMC decided to leave our policy interest rate unchanged,” Fed Chair Powell says. “Our strong actions have moved our policy rate well into restrictive territory and we’ve been seeing the effects on economic activity and inflation.” pic.twitter.com/X6d9LF1RVp
— Yahoo Finance (@YahooFinance) January 31, 2024
As Spencer Brown, my colleague at sister site Townhall.com, wrote,
As a result, the Fed did not reduce interest rates for the fourth time in a row — which remain at the highest level since early 2001 — as it insists it is working toward getting inflation back to its goal of just two percent. The latest release…
