Fed to keep “exceptionally low levels of the federal funds rate for an extended period.”
That’s all you need to know.
Source
FOMC statement – Board of Governors of the Federal Reserve System
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FOMC statement – Board of Governors of the Federal Reserve System
Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.
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Ed-
You may wish to check out this month’s new, bleak Discover(R) survey:
https://investorrelations.discoverfinancial.com/phoenix.zhtml?c=204177&p=irol-newsArticle&ID=1350674&highlight=
I’m interested to see how this will translate into consumer credit. Definitely something to watch given the still very low savings rate.