FOMC votes to hold rates


The Federal Open Market Committee voted to hold interest rates steady as it “remains highly attentive to inflation risks.”

“In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent,” the official FOMC statement said. “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.”

TBA members can get further insights from Fed Governor Michelle Bowman, a voting member of the FOMC. She is a highlighted speaker at TBA’s 139th Annual Convention, happening from May 8-10, 2024.