The Fed Punts

September 18, 2015

On Thursday the Federal Reserve Open Market Committee announced it would keep the target Fed Funds rate at a target between zero and 1/4 percent (0.0% to 0.25%, the so-called Zero Interest Rate Policy, or ZIRP.) In short, they punted. Rather than run with the ball themselves by letting interest rates begin to rise as they have long said will one day happen, the Board of Governors kicked it to the market and elected to play defense. Putting it mildly as possible, read more…

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