The Fed had expected to release some sequels to December’s interest rate increase. See how policymakers explain why they haven't made another move, and see whether the next meeting could put the central bank back on a rate-raising track. Read more
The interest rate at which banks lend money to one another overnight to meet loan reserve requirements. The federal funds rate is a tool used by the Federal Reserve to control the supply of available money and hence, inflation and other interest rates.
Raising the rate makes it more expensive to borrow. That lowers the supply of available money, which helps keep inflation in check. Lowering the rate has the opposite effect.
Click through the timeline below to see the effect the Fed's moves had on mortgage rates.
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Policymakers at the Federal Reserve have opted to keep interest rates frozen.
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The rate-setting Federal Open Market Committee meets at least eight times a year. Its members include the Board of Governors of the Federal Reserve System, the president of the Federal Reserve Bank of New York and a rotating selection of presidents of the other 11 reserve banks.
Board of Governors, Chair
Board of Governors
Apple, among a group of four companies dubbed "FANG" by CNBC's Jim Cramer, has seen its shares decline sharply after reporting its 1st drop in quarterly revenue in 13 years.
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