This Wednesday, the Federal Open Market Committee met to discuss the nation’s current economic conditions. After reviewing the state of the market, the committee voted on whether or not they would continue interest rate hikes in July. The first hike of this year occurred in March, which was raised again when they voted in June—and yesterday, the fed ruled to delay the nation’s next interest rate hike.
This week, the Federal Open Market Committee held its monthly meeting to discuss the state of the nation’s interest rates. According to Janet Yellen, Federal System Chair of the Board of Governors, the Committee decided to forgo raising interest rates to help the U.S. market recover from the impact of Brexit. In fact, the Federal Reserve may even wait out raising rates until after the election.