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Federal Reserve issues FOMC statement

Decisions Regarding Monetary Policy Implementation – “The Federal Reserve has made the following decisions to implement the monetary policy stance announced by the Federal Open Market Committee in its statement on December 16, 2015:

  • The Board of Governors of the Federal Reserve System voted unanimously to raise the interest rate paid on required and excess reserve balances to 0.50 percent, effective December 17, 2015.
  • As part of its policy decision, the Federal Open Market Committee voted to authorize and direct the Open Market Desk at the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in the System Open Market Account in accordance with the following domestic policy directive:1
  • New York Times – Fed Raises Rates for First Time Since the Financial Crisis – “The decision was a milestone in the recovery from the financial crisis, but the Federal Reserve emphasized that subsequent rate increases would come slowly.

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