Skip to main content

Fed Declines to Raise Rates Again

Sep 17, 2015
The Federal Reserve Board of Governors is becoming one person smaller: Daniel K. Tarullo submitted his resignation this afternoon, effective on or around April 5

The Federal Reserve has decided to leave well enough alone and will not raise the federal funds rate at this time.

In a statement issued by the central bank’s Federal Open Market Committee (FOMC), the decision to maintain the status quo came despite pronouncing U.S. economic activity as being in a “moderate pace” of expansion. The Fed defended its action by insisting that “recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term.” However, it repeated its oft-stated promise that a rate hike will eventually happen.

“To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate,” said the Fed in a press statement. “In determining how long to maintain this target range, the Committee will assess progress—both realized and expected—toward its objectives of maximum employment and two percent inflation.”

The final FOMC was near-unanimous, with only Jeffrey M. Lacker, president of the Richmond Fed, seeking to raise the target range for the federal funds rate by 25 basis points.

About the author
Sep 17, 2015
STRATMOR, Teraverde Deal A 'Merger Of Equals'

The recent merger of mortgage advisory firms came without the need to lay people off or make any major staffing changes.

May 23, 2024
NEXA Pays Loan Officers 100% Of Commission Splits

LOs won't pay per-file fees or other hidden fees with NEXA100, says NEXA Founder and CEO Mike Kortas.

May 22, 2024
The Right Prescription

‘Doctor Loans’ making healthy strides in Florida

May 21, 2024
123 Newrez Employees Laid Off In Florida and Colorado

WARN Notices were filed the day after Computershare Mortgage Services, SLS acquisition closed.

May 07, 2024
Ishbia Predicts A Rate Cut By Election Day

CEO of United Wholesale Mortgage shares 'personal perspective' in new YouTube video

May 03, 2024
Yield Curve, Schmield Curve?

The yield curve is a harbinger, not the be-all, end-all for lenders.

May 02, 2024