Fed minutes send strong message on interest-rate cuts
Fed meeting minutes hint at what's next for interest rates.
Interest rates aren’t going anywhere—maybe. Minutes from a meeting of the Federal Reserve Bank leaders, which was held in early May and released on May 29, show the central bank voted to undertake open market operations “as necessary” to maintain the federal funds rate in a target range of 4.2% to 4.50%.
In a related action, the Board of Governors of the Federal Reserve System voted unanimously in early May to approve the establishment of the primary credit rate at the existing level of 4.5% – which means interest rates for lenders, consumers and the rest of Americans won’t be budging in the near term, much to the dismay of the Trump administration.
