DALLAS – The Federal Reserve’s Open Market Committee has cited its intention to keep its benchmark overnight target rate at least until mid-2013, noted Brian Turner, director of Advisory Services at Southwest Corporate, in analysis yesterday.
Turner cited the FOMC’s statement that, “The Committee now expects a somewhat slower pace of recovery over the coming quarters than it did at the time of the previous meeting and anticipates that the unemployment rate will decline only gradually.”
The FOMC added its expectation that economic conditions are “likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013.”
