Good news for consumers - Fed to hold interest rate hikes for now!
Market Watch reports:The Federal Open Market Committee will hold rates steady at its policy meeting on Wednesday, taking a "wait-and-see approach" amid hints that the economy is downshifting and inflation pressures abating, economists say.
"This seems like a good time to stay on hold because there really is a lot of uncertainty now," said Robert Dederick, a former Commerce Department economist and the president of RGD Economics.
"We've reached that stage in the cycle where things could go a number of ways. The wisest thing would seem to stay there and look around," Dederick said.
The FOMC stopped hiking interest rates in August after 17 consecutive rate hikes raised its key target Fed funds interest rate from 1% up to 5.25%.
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posted by SFResidence.com @ 7:52 AM
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