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The Federal Open Market Committee voted to maintain target interest rates at a range of 4.25% to 4.5%.
Statement: The FOMC said that although economic activity has continued to expand and the unemployment rate has stabilized in recent months, inflation remains somewhat elevated.
Vote: All committee members voted in favor of the policy action except Christopher Waller, who supported no change for the federal funds rate, preferring to continue the current pace of decline in securities holdings instead of slowing them.
Economic Projections: In its latest economic projections, the Federal Reserve estimated lower gross domestic product growth in 2025, higher unemployment, and higher inflation than its December projection.
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Saying that new technologies are important tools for community banks to meet customer demand, increase revenue, improve efficiencies, and remain competitive, the OCC announced a new webpage with dedicated resources to help community banks meet their digitalization objectives.
ImageMar 20, 2025
The latest Independent Banker magazine spotlights what community bankers need to know about the Fedwire Funds Service’s conversion to the ISO 20022 message format.
ImageMar 19, 2025
Following President Donald Trump’s executive order directing the Treasury Department to eliminate the non-statutory components of the Community Development Financial Institutions Fund, ICBA highlighted the critical role that CDFI community banks play in local economies.
ImageMar 19, 2025
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