The target range for the federal funds rate at 1 to 1. 25 . His accommodative policy should support some further strengthening in the job market and return to 2 inflation, consistent with our statutory objectives. We also decided that in october we will begin the Balance Sheet Normalization Program that we outlined in june. This program will reduce our Securities Holdings in a gradual and predictable manner. I will have more to say about these decisions shortly, but first, i will review rate recent Economic Development in the outlook. As we expected, smoothing through some variation from quarter to quarter, Economic Activity has been rising moderately so far this year. Household spending has been supported by ongoing strength in the job market. Business investment has picked up and exports have shown greater strength this year, in part reflecting improved Economic Conditions abroad. Overall, we expected the economy will continue to expand at a moderate pace over the next few years. In
Revised down its 2017 core inflation projections from 1. 7 in june to 1. 5 . Unemployment will hold steady they expect by the end of the year, 4. 3 but gdp has been revised up from 2. 2 in june to 2. 4 what they expect by the end of the year. The fed is going to maintain its projections for a thirdrate hike in 2017 according to the fed dot plot and it is also projecting three potential rate hikes in 2018 but again members of the fomc are bit more dovish on the rate hike projections. Thee members dropped projections this year. From Federal Reserve statement, storm related reductions will affect Economic Activity in the near term but past experience that the storms are unlikely materially to alter the course of the National Economy over the medium term. The inflation problem the fed is facing, inflation on a 12 month basis expected to remain somewhat below 2 . This was unanimous decision to hold Interest Rates where they are in december and initiate beginning of unwinding in october. Tri
Home caught on tape unleashing a screaming, profanityraced tirade at his neighbor, who happens to be Kathy Griffin. Is his job in jeopardy power lunch starts right now im Brian Sullivan thanks, michelle your money is steady ahead of the fed. The dow is up about 20 points. It would be higher if it wasnt for apple. Apple, the biggest drag on the dow, reportedly admitting there are some connectivity with their new watch. We have an ipo shares of ali baba backed the Logistic Companies best up inc more than 13 . Investors are throwing in the towel on bed, bath, and beyond plunging lets leave you with some good news if you own shares of biotech firm alnylam, that stock is up 40 after a drug candidate cleared. It is all about the feds lets begin there. The countdown is on less than an hour no rate hike is expected but this is still an incredibly important meeting and announcement because everybody wants to hear how the fed is going to start to unwind its multitrillion dollar Balance Sheet. Ou
Committee decided to maintain the target range for the federal funds rate at 1 1 and a quarter percent. This accommodative policy should support for the strengthening in the job market and return to 2 inflation. We also decided in october we will begin the Balance Sheet Normalization Program that we outlined in june. This program will reduce our Securities Holding in gradual and predictable manner. I will have more to say about this decision shortly. First, ill review recent Economic Development of the outlook. As we expected, smoothing through some variations from quarter to quarter, Economic Activity has been rising moderately so far this year. Household spending has been supported by ongoing strength in the job market. Business investment has picked up and exports have shown greater strength. In part reflecting improved Economic Conditions abroad. Overall, we expect the economy will continue to expand at a moderate pace over the next few years. In the third quarter, Economic Growth
Hurricane maria moves past the Dominican Republic after a direct hit on puerto rico, knocking out power to the entire island. Janet yellen keeps Interest Rates on hold but the fed announces its historic quantitive easing program is coming to an end. Details coming up in business. We will go to madagascar are your locals are fighting to keep the iconic lemurs from the brink of extinction. First our top story live from paris. The second day of protests in barcelona today. Anger is growing over attempts from the Spanish Government to block an independence referendum for the Northeastern Region of catalonia. 14 officials were arrested on wednesday prompting thousands of people to pour into the streets. They say they are determined to go ahead with the independence vote 10 days from now no matter what. The government and Spanish Constitutional Court have been unambiguous. They say the vote is illegal and they have taken many steps to stop it from happening. They have seized 10 million ballo