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SCHR - Fed Holds Steady But Rate Cuts Likely In The Future
Schwab Intermediate-Term U.S. Treasury
By Collin Martin
The Federal Open Market Committee ((FOMC)) - the Federal Reserve's policymaking arm - held its target range steady on Wednesday, maintaining the 2.25% to 2.5% target range for the Federal Funds rate. This was widely expected by the markets.
The next move by the Fed is likely to be a rate cut, however, based on updated projections from FOMC participants.
For the first time in Fed Chair Jerome Powell's tenure, the decision was not unanimous. Voting against the decision was James Bullard, president of the Federal Reserve Bank of St. Louis, who