WASHINGTON–The Federal Open Market Committee (FOMC) will begin a two-day policy setting meeting here today. Once again all eyes will be on whether the FOMC chooses to again raise interest rates.
The Committee has already raised interest rates once this year, moving at its March meeting to boost the federal funds target rate by a quarter-point to a range of 1.5% to 1.75% during its previous meeting in March. It has further indicated it plans to raise interest rates two or three more times during 2018.
The Fed said after its March meeting that it sees positive signs around its target inflation rate of 2% annually, as well as strong economic growth. The economy did slow slightly during the first quarter, but wages have been increasing and that is expected to maintain economic momentum and potentially provide impetus for a rate increase.
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