interest rates

Today’s Fed Meeting: No Changes to Interest Rates

The FOMC concluded their monetary policy meeting today, which, as expected, resulted in no change to the fed funds rate—currently targeted to a range of 1.75-2.00%.  There were no dissenting votes. The formal narrative again was positive in its assessment of overall conditions, with both economic activity and labor market descriptions being upgraded from ‘solid’…

Productivity

What has happened to productivity?

Productivity continues to be a debated topic, and the subject of both academic and more practical white papers, with no clear-cut conclusion reached, although hopes and expectations for improvement from current low levels are widespread.  A recent report by consultant McKinsey delved into this topic extensively.  This isn’t entirely surprising since productivity is a more…

interest rate increase

Interest Rates Tick Upward Once Again

The June FOMC meeting concluded with members deciding to raise the fed funds target rate by 0.25%, for the seventh time this cycle, to a new range of 1.75-2.00%.  As the probability of this happening was over 95%, in light of recent stronger economic and inflation data, this was far from a surprise. The formal…

the fed

The Fed Makes No Change to Interest Rates This Month

The Fed met today and ended their meeting with a unanimous vote of no action on the interest rate front, as predicted, with the fed funds rate target remaining at 1.50-1.75%.  The formal statement showed little change from the March edition, with continued growth noted broadly, with one edit noting strength in business fixed investment.  Inflation…