Fed: No Change in Interest Rates

The Federal Reserve announced today that it is leaving interest rates steady, citing a growing economy and a strong jobs market. The Fed voted unanimously to keep the overnight lending rate at 1.5 to 1.75 percent. “The Committee judges that the current stance of monetary policy is appropriate to support sustained expansion of economic activity, strong labor market conditions, and inflation returning to the Committee’s symmetric 2 percent objective,” the Fed said in a statement. “The Committee will continue to monitor the implications of incoming information for the economic outlook, including global developments and muted inflation pressures, as it assesses the appropriate path of the target range for the federal funds rate.” Looking ahead, the Fed said, “In determining the…