Bloomberg: Fed Signals Rate Rise Still Distant
Bloomberg reported that Federal Reserve policy makers signaled they won’t be raising interest rates anytime soon while suggesting they would tighten credit at a faster pace once the liftoff has begun.
Bloomberg noted that Fed chair Janet Yellen and her colleagues stuck with a pledge to hold interest rates near zero for a “considerable time” after they end asset purchases, probably in October.
Bloomberg said policy makers projected a steeper increase in borrowing costs next year, raising the median forecast for the benchmark rate at the end of 2015 to 1.375% from June’s estimate of 1.125%. In their first forecast for 2017, they projected the rate for the close of that year at 3.75%, according to Bloomberg .
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To read the entire FOMC statement, click here.