WEDNESDAY AFTERNOON UPDATE:
As expected, this week’s FOMC meeting has adjourned with an announcement of no change to key short-term interest rates. The Fed also indicated that it is likely no change to rates will be made next year followed by a single rate increase in both 2021 and 2022. Their updated economic projections showed only one notable change. That was the unemployment rate that is now expected to stand at 3.5% at the end of 2020 compared to the previously estimate 3.7%. The other key benchmarks such as GDP and inflation were left unchanged for the most part.
30 yr - 1.78%