Yesterday the Federal Reserve announced that it was not going to raise the target federal funds rate.
Paul-Martin Foss at the Carl Menger Center explains the Fed's decision:
This was widely expected, given the dismal jobs report that was published two weeks ago and the uncertainty in the banking sector surrounding the UK’s upcoming Brexit vote. Some FOMC participants had in recent weeks expressed uncertainty about raising rates because of the potential for instability in the banking sector if the UK votes to leave the European Union.
Campaign for Liberty continues to push for legislation calling for a full audit of the Federal Reserve. Learn more about our efforts here.
Tags: Audit the Fed, Campaign for Liberty