WASHINGTON—The Federal Open Market Committee will wrap up its two-day meeting today, which is not expected to end with a rate hike.
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.
Following the FOMC's meeting in December, committee members pared its projection for 2019 from three rate hikes to just two. President Trump has been critical of the rate hikes, and some members of the FOMC have indicated they do not feel as strongly as they have in the past about raising rates given recent economic data.