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search neil gorsuch. we will take you live to the news conference with federal reserve chair janet yellen. good afternoon. today the federal open market committee decided to raise the target range for the federal funds rate by one quarter percentage point, bringing it to three quarters to 1%. our decision to make another gradual reduction in the amount of policy accommodation reflects the economy s continued progress toward the employment and price stability objectives assigned to us by law. for some time, the committee has judged that if economic conditions einvolved as anticipated, gradual increases in the federal fund rate would likely be appropriate it achieve and pain maintain our objectives. today s decision is in line with that view and does not represent a reassessment of the economic outlook or of the appropriate course for monetary policy. i ll have more to say about monetary policy shortly but first i ll review recent economic developments in the outlook. t ....
appears to have been temporary. indicators for the second quarter have so far pointed to a sizable rebound. this recovery is a key factor supporting the committee s expectation that overall economic activity will expand at a moderate pace over the next few years. despite lackluster economic growth the job market continued to improve early in the year. during the first quarter job gains averaged nearly 200,000 per month, just a bit slower than last year s pace. and the unemployment rate held near 5% even though notably more people were actively looking for work. however, more recently, the pace of improvement in the labor market appears to have slowed markedly. job gains in april and may are estimated to have averaged only about 80,000 per month. and while the unemployment rate fell to 4.7% in may, that decline occurred because fewer people reported that they were actively seeking work. a broader measure of unemployment that includes individuals who want and are availabl ....
assessment. and of course, there were a lot of practices in connection with mortgage lending that really need to be changed. we don t want to go back to those days, but it is important to clarify for us, to work to clarify the rules around mortgage lending to create an environment of greater certainty for lenders to be willing to extend mortgage credit. good afternoon. jason lang with reuters. chairman yellen, the fed has slashed its growth projections for this year, and you ve gone to pains to explain that there is uncertainty in the path of interest rates and the economy. and yet, the fed s central tendency projections for 2015 and 2016 remain quite strong. are you confident that the u.s. economy has entered a period of sustained, above-trend economic growth? thank you. well, when you say confident, i suppose the answer is no, because there is uncertainty, but i think there are many good reasons why we should see a period of sustained growth in excess of the econo ....
POTSDAM SUNY Potsdam Athletics administrator and former men s basketball coach Bill Mitchell has announced his retirement after 39 years at the College. "Bill s departure is going to leave an … ....
Mitchell retiring from SUNY Potsdam after 39-year career northcountrynow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from northcountrynow.com Daily Mail and Mail on Sunday newspapers.