FOMC maintains monetary policy unchanged in April’s meeting26 April, 2012, 0:36. Posted by Zarathustra
Tags: Federal Reserve, FOMC, Monetary Policy, US
The Federal Reserve Open Market Committee (FOMC) announced that they are not going to make any changes to monetary policy after the two-day meeting, just as the market expected. The Fed funds rate target remains at 0 – 0.25% and it is expected to be maintained at least through 2014, while there’s no change in operation twist. The vote was not unanimous, with Jeffrey M. Lacker voting against the language of keeping rates low through 2014.
The FOMC thinks the economy is “expanding moderately”, while housing market remains depressed. The committee expects growth to remain moderate and to pick up gradually, and unemployment will fall gradually. However, strains in financial markets post downside risks to the economic outlook.
The press release can be read here.
There will be a press conference, which can be watched below. It will start at 14:15 ET.