Powell and the FOMC kept the Federal Funds rate unchanged.
The Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent
The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent
The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals
The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks
(FOMC Committee policy statement 1/31/2024)
We will be back with more later as the equity markets continue yesterdays late tumble and a few banks out there seem to be teetering on the brink…
Equity Index Futures data (TradingView)
Ok guys will have the update out to our subscribers later tonight!
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