BEIJING — Recently, the Federal Open Market Committee (FOMC) of the Federal Reserve System (the Fed, equivalent to America's central bank) held its meeting, once again drawing significant attention both domestically and internationally.
BEIJING — Recently, the Fed eral Open Market Committee of the Fed eral Reserve System held its meeting, once again drawing significant attention both domestically and internationally. This was primarily because the committee is the statutory body that decides whether the Fed will adjust the interest rates for its loans to major financial institutions.
Previously, the Fed had forecast three rate cuts for this year, then revised it to two, and now, in this latest adjustment, only one rate cut is expected, again disappointing many. There is a genuine concern that the next Fed announcement might state that there will be no rate cut this year at all.Apart from the 2 percent inflation target, the Fed also has a relatively secondary market intervention goal: to increase employment in the US.
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