The FOMC (Federal Open Market Committee) led by Jerome Powell, quietly paused this week.
FOMC No Change
Mid-Week, the FOMC announced no change in their controlled short term interest rate.
We have been vocal about not lowering rates moving forward, to keep some gunpowder for the next recession.
After a market desired multiple small lowering of rates earlier this year, this week, the FOMC effectively did nothing, and did not disturb Capital Market Participants… finally.
They also made no future promises, again, with market blessings…
We like it!
Have a Great Friday!
John A. Kvale CFA, CFP