FOMC Rate Decision

By IBTimes Staff Reporter | March 16 2010 6:43 PM

The Federal Open Market Committee announced today its decision on interest rates, where the FOMC decided unanimously to leave the benchmark interest rates unchanged at the current target range between 0.0% and 0.25%, while the FOMC signaled that economic activity continues to strengthen.

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Meanwhile, the FOMC signaled that conditions in the labor market are stabilizing, while consumer spending continues to improve by a moderate pace, though spending remains constrained by elevated unemployment, lower income growth, lower household wealth, and tight credit conditions.

The FOMC also signaled that they still believe that inflation pressures will remain subdued for some time, and the FOMC confirmed that the benchmark interest rate is expected to remain at exceptionally low levels for an extended period.