Amid A Swirl Of Controversy, Fed Policy Remained Stable
Published Friday, November 9, 2018 at: 7:00 AM EST
Despite the double-digit plunge in stock prices in October and rebukes by the President, the Federal Reserve Board isn't changing course. Despite unusual turbulence, Fed policy remained stable and steady.
Two days after pivotal midterm federal elections and two weeks after an 11% drop in the Standard & Poor's stock index, the Fed's Nov. 8 monthly monetary policy news-release repeated its long-held strategy for controlling rates and inflation.
Despite the stock market plunge and unusually direct criticism of the Fed by President Donald J. Trump, the U.S. central bank policy remained unchanged. "The Committee decided to maintain the target range for the federal funds rate at 2% to 2.25%," said the Fed statement. Amid a swirl of controversy, Fed policy has remained stable.
- The Bad And Good Financial News This Week
- Stocks Set New High Closing Price Amid Turbulence
- Stocks Gained +16% in 2020; Wall Street Expects +7.6% In 2021
- Holiday-Shortened Week Ends With Stocks Little Changed, Despite D.C. Drama
- The Financial Economic Situation Now
- Bull Market Has Broadened
- Why Did Stocks Close At A Record-High After Disappointing Jobs Report?
- Americans Sit On A Mountain Of Cash Amid Pandemic
- For High-Income Earners And Families, Failing To Plan Is A High-Stakes Gamble
- Stocks Break Record, But Smart Money Is Focused On Taxes
- Wall Street Reacts To D.C With A 7% Weekly Gain
- On Election Eve, Here's The Economic Outlook
- Sizing Up Economic Prospects
- Two Good Economic Surprises
- October Surprise May Be The Economy