Fed holds interest rates unchanged

Open Market Committee says it is "monitoring developments abroad"

New York /
Sep.September 17, 2015 02:11 PM

The Federal Reserve announced Thursday that it would maintain interest rates near zero, as Fed officials continue to assess how the U.S. economy is being affected by a slowdown in global economic growth and tighter financial conditions.

“Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term,” the Fed said in a statement.

“The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced but is monitoring developments abroad,” it added. The Fed provided no timeline for the first rate increase, though many Fed officials reportedly expect the central bank will take some action before the end of this year.

Any increase in rates could test momentum in the housing market, with low mortgage rates having helped home prices rebound in wake of the 2008 financial crisis. — Hiten Samtani

 
 
 

Related Articles

arrow_forward_ios
Incoming Federal Reserve vice chairwoman Lael Brainard (Getty Images, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
Biden admin eyes modern update to Community Reinvestment Act
Biden admin eyes modern update to Community Reinvestment Act
JDS Development Group’s Michael Stern and 111 West 57th Street; Fortis Property Group’s Jonathan Landau and Olympia Dumbo (Olympia Dumbo, 111 West 57, Fortis Property Group, iStock)
Rising rates slow new development sales in Brooklyn, Queens
Rising rates slow new development sales in Brooklyn, Queens
555 Edgecombe Avenue and Efrem Harkham (LoopNet, Getty, iStock)
Harkham family buys historic Washington Heights apartments
Harkham family buys historic Washington Heights apartments
Federal Reserve chair Jerome Powell (Getty/Illustration by Kevin Rebong for The Real Deal)
Fed hikes interest rates as inflation concern simmers
Fed hikes interest rates as inflation concern simmers
(iStock/Illustration by Kevin Rebong for The Real Deal)
Flood of single-asset deals propels CMBS market to 14-year high
Flood of single-asset deals propels CMBS market to 14-year high
(iStock)
Germany tightens mortgage lending to reel in soaring housing prices
Germany tightens mortgage lending to reel in soaring housing prices
Cash-Out Home Refinancing Hits 14-Year High in Third Quarter
Cash-out mortgage refinancing hits 14-year high
Cash-out mortgage refinancing hits 14-year high
(iStock)
Refinancing has saved homeowners billions, but window is closing
Refinancing has saved homeowners billions, but window is closing
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...