WASHINGTON—The Federal Open Market Committee (FOMC) will conclude its two-day meeting today, with no rate hike expected.
The committee last raised the federal funds target rate to the current range of 2.25 to 2.5% at the end of its December meeting, the fourth rate hike of 2018.
The committee previously pared its projection for 2019 from three rate hikes to just two. NAFCU Chief Economist and Vice President of Research Curt Long, following January's meeting, predicted that there would be no more than one rate hike in 2019.
As CUToday.info reported here, Fed Chairman Jerome Powell during recent congressional testimony tamped down speculation the Fed will be aggressive with rates in 2019, saying “patience” is more in order.