As expected, the Fed left the Federal Funds Target unchanged at 1.5%- 1.75%, after cutting rates by 25 bps at the prior three meetings. The decision to keep rates unchanged was unanimous, its first unanimous decision since May. The current Fed Dot Plot now suggest rates will remain on hold through 2020. Stocks moved slightly higher after the announcement, the S&P 500 Index (SPX) which had been slightly positive gained an additional 4 points. Fed Chairman Powell will hold his press conference at 2:30pm ET.
Past performance is not a guarantee of future results. Index returns are unmanaged and do not reflect the deduction of any fees or expenses. All data points are sourced from Bloomberg as of 12/11/19 unless noted otherwise.
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