Fed funds rate unchanged at 2%

The Federal Open Market Committee (FOMC) has kept the federal funds rate at 2.0% – news that is not news since it was widely anticipated. What is more important to note perhaps, is that “in its statement, the Fed gave no sign that it plans to change policy in the foreseeable future.”

Excerpts from news sources

  • many economists believe the Fed won’t move rates in either direction until after the presidential election
  • the Fed will keep rates at 2% until at least December, if not early next year
  • unless a major bank goes under, the Fed’s next move will be to eventually raise rates

SIBOR and SOR have been trending lower recently. Lets hope it will stay that way at least until early next year so i can capitalize on it, heh.

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