Skip to main content

Fed Declines to Raise Rates Again

Phil Hall
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.

Published
Sep 17, 2015
Rocket Arms Brokers With Bully Shield Vs. UWM

Rocket covers penalties and court fees for brokers who want to get out of United Wholesale Mortgage’s ultimatum contract. 

Industry News
Feb 06, 2023
Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

Industry News
Jan 26, 2023
There’s Good & Bad News On The Horizon

There will be a real estate slump, but the big cities are coming out much better

Industry News
Jan 26, 2023
Housing Prices Across Texas Likely Hobbled In 2023

But you’re getting a lot less for $1 million

Industry News
Jan 23, 2023
UWM Adds 'Control Your Price' To 'Game On' Pricing

New program provides 125 basis points in price enhancements for loan orignators.

Industry News
Jan 11, 2023
Rocket Pro TPO Relieves Brokers Of Credit Fee Burden

Will provided free credit reports to brokers if they get their loan closed with the Detroit lender.

Industry News
Jan 10, 2023