Fed Slows Down on Plans to Pursue Interest Rate Increase

Document Type:Coursework

Subject Area:Economics

Document 1

The Federal Reserve has cited a weak global economy as the main reason for it slowing down on its plans to raise interest rates. A committee at Fed charged with making policy voted against an increase of the standard interest rate even though the general expectation was for an increase. Fed’s chairwoman, Janet L. Yellen, indicated that the domestic economy had no signs of damage from the turbulences witnessed in the financial markets and that the central bank was still optimistic about a steady national economy. At the beginning of the year, the Fed begun by making plans to raise interest rates by around one percent, predicting it to be most likely in increments of four quarter-points. S in economic growth and the weak global growth continues to pose a threat.

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