31 Jul 2013
Fed keeps policy unchanged, slightly downgrades outlook
FXstreet.com (Córdoba) - The Federal Open Market Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent Wednesday and kept and the central bank's $85 billion-per-month bond-buying program in place, giving no hints about the possibility of tapering such program.
The Fed reiterated that it anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6.5% percent and inflation below 2.5%.
The Federal Reserve slightly downgraded its economic outlook as it pointed to “modest” growth a change from the "moderate" pace seen in June. Officials also said higher mortgage rates and low inflation as factors it is watching closely.
The Fed reiterated that it anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6.5% percent and inflation below 2.5%.
The Federal Reserve slightly downgraded its economic outlook as it pointed to “modest” growth a change from the "moderate" pace seen in June. Officials also said higher mortgage rates and low inflation as factors it is watching closely.