2024-03-22 05:05:00 ET
Summary
- As was widely expected, the Federal Reserve decided to leave the Fed funds rate unchanged at its March 20 FOMC meeting.
- Despite the 2024 gross domestic product growth expectations rising to 2.1% from 1.4%, the unemployment rate still near historic 50-year lows.
- All in all, the markets responded well, with most major domestic equity indexes up about 1% by day’s end with no meaningful moves in US Treasury rates.
By Stephen H. Dover, CFA, Chief market Strategist, Head of Franklin Templeton Institute | Rick Polsinello, CIMA, Senior Market Strategist, Franklin Templeton Institute ...
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Quick Thoughts: The Fed - Steady As She Goes