Federal Reserve Rate Annoucement Today

March 16th, 2010

The Federal Reserve is scheduled to make a rate announcement today at 2:15 pm ET. While the central bank is expected to hold its benchmark rate at historic lows, some believe that the Fed will begin to change the tone of its message.

Peter Cardillo, chief market economist for Avalon Partners told CNN.com, “Recent economic data has been ticking higher, with most of the stalls being weather-related. Even the labor market is trending better, and that’s the last major indicator that needs to turn to the positive side.”

As the economy continues to improve the Fed will need to start increasing interest rates to fight off inflation. So today, investors and analysts will pore over the Fed’s statement for clues about when rates might change. The Fed has repeatedly said inflation is not an immediate problem, and it plans to keep rates low for an “extended period,” and people will be watching to see if this message will continue.

Rising interest rates in the long run will ultimately cause mortgage rates to rise.

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