News Coverage
Examining How Fed’s Rate Move Might Impact Auto
Thursday June 20, 2019
SubPrime, June 20, 2019 — This year began with expectations the Federal Reserve would push interest rates higher multiple times. Then this week, not only did policymakers maintain the rate at its current level, experts are seeing the possibility of a rate cut before 2019 closes — perhaps because a recession might be approaching.
While not a unanimous move, members of the Federal Open Market Committee (FOMC) voted to maintain the target range for the federal funds rate at 2.25% to 2.50%. James Bullard went counter to the other nine policymakers as he looked to drop the rate by 25 basis points during the FOMC’s regularly scheduled meeting this week.