In its post-meeting statement, the Federal Open Market Committee (FOMC) of the Federal Reserve announced its decision not to raise the current federal funds rate of 0.25 to 0.50 percent. Although FOMC members acknowledged further improvement in the U.S. economy and jobs markets, the committee cited the following as influencing its decision not to raise the current federal funds rate: Household income continued to rise, but consumers have "moderated" their spending. Inflation is expected to remain below the Fed's goal of two percent in the near term. Temporary influences including low energy and import prices are expected to ease. FOMC monetary policy decisions made in April's meeting were … [Read more...]