Fed votes to continue taper, lowers growth expectations

and "global economic and financial developments continue to pose risks." Asked about their individual projections, the Fed governors indicated that they expect lower interest rate increases this year.

The 7-2 vote for the rate move, the Fed’s third this year, raises the benchmark lending rate by a quarter percentage point to a target range of 1.25 percent to 1.5 percent.

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FED CONTINUES TO TAPER. The Federal Reserve just wrapped up its two-day Federal Open Market Committee (FOMC) meeting. As expected, the Fed kept its benchmark rate unchanged at low levels (between 0% and 0.25% ), and it tapered quantitative easing (QE) by another $10 billion.

As investors intensify their scrutiny of the Federal Reserve, economic indicators continue to send out mixed. level since May and coming in below expectations. The core index, which is more closely.

Monetary Policy Expectations and Surprises. taken place so far is that we appear less likely to face major market disturbances now than we did in the case of the taper tantrum. But, of course, as we continue to discuss and eventually implement policies to reduce our balance sheet, we will.

The Fed raises and lowers interest rates to help keep inflation under control. Restricting the amount of money available to people is one tool the Fed uses to keep inflation under control. Let me illustrate the most common effects of the Fed changing interest rates:

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 · Following the meeting of the Federal Reserve’s rate-setting body, the news is basically more of the same: Short-term interest rates are staying very low, in the current 0% of .25% range; and the central bank is will continue, as expected, to “taper” the extraordinary program of bond buying that it launched in response to the financial crisis.

 · The chairman’s remarks led investors to send stock prices up, bond yields down and the value of the U.S. dollar lower on expectations of lower interest rates. The S&P 500 index briefly traded over.

In a near unanimous vote, the Federal Open Market Committee of the central bank elected to continue the taper program of quantitative easing started at the end of 2013 under the former Fed Chair.