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SFY - Fed Holds Interest Rates Steady; QE Marches On
SoFi Select 500
By SchiffGold
The Federal Reserve held its first Federal Open Market Committee meeting this week. As expected, the central bank held interest rates steady, but the overall posture of the Fed came off as rather dovish. Quantitative easing will continue into the near future, and Fed Chairman Jerome Powell left the door open for future rate cuts.
The Federal Reserve funds rate will stay locked in at 1.5-1.75%, and the vote was unanimous. Powell said, "We're comfortable with our current policy stance and we think it's appropriate."