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Interest Rate News: FOMC Minutes Released

Posted by: RateAPY Bank Rates News
May 19th, 2010

The Federal Reserve’s Federal Open Market Committee(FOMC) meets eight times a year–about every six weeks–to discuss U.S. monetary policy. The most recent meeting was April 27-28. Three weeks after the meeting, the minutes are released. Today, the minutes from the April 27-28 meeting were released. They are being combed over by analysts for any hint of what the Feds might do in the future with interest rates.

Interest Rates, GDP and Unemployment

The most noteworthy comments made in the minutes are about the increased expectation for GDP growth this year and an improved outlook for unemployment. The Feds are revising their GDP growth estimates for 2010 to between 3.2 percent to 3.7 percent. The expectations on unemployment levels improved to a range of 9.1 percent to 9.5 percent.

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