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Posted by: RateAPY Bank Rates News
September 25th, 2009
The Fed’s Federal Open Market Committee (FOMC) began one of its regularly scheduled meetings on September 22, 2009, and anxious investors wait to see if the Federal Reserve will give indications about adjustments to its monetary policy which affect everything from cd rates to mortgage rates. Fed Chairman Ben Bernanke made recent statements that the US recession is over and that slow economic growth should be seen shortly, though employment recovery will lag. However, despite these statements from Bernanke, few experts conclude that interest rates will change when the Fed announces its federal funds target rate at the conclusion of the FOMC meeting.
Interest Rates Unlikely to Move On Fed Announcement
Currently, the federal funds target rate is at a rock-bottom 0.00% to 0.25%–and all 91 of 91 economists surveyed by Bloomberg believe the Fed will maintain this low rate to further stimulate growth. What investors will look for, however, is an indication of the Fed’s time horizon with regard to future rate changes.
- Posted in CD Rates | Federal Reserve | Interest Rates | Mortgage Rates
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