The Federal Reserve ignored President Trump’s exhortations to cut rates and opted to maintain the target range for the federal funds rate at 4.25% to 4.5%.
“Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace,” said the central bank’s Federal Open Market Committee in a statement. “The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. Inflation remains somewhat elevated.”
Nonetheless, the Fed remained concerned on the near future, adding, “Uncertainty about the economic outlook has increased further. The Committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen.”
The Fed stated it would continue to reduce its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee’s vote to maintain rates was unanimous.
Of course. The Fed is a Leftist cabal who works to keep the Demoncraps in power. They’ll reduce rates if enough Dims get elected in the midterms.
ABOLISH the unconstitutional Fed!!
💯 agreed.