The Federal Reserve today decided not to change the Federal Funds rate, leaving it at 5.25%:

“Readings on core inflation have improved modestly in recent months,'' the Federal Open Market Committee said today after a two-day meeting in Washington. “However, a sustained moderation in inflation pressures has yet to be convincingly demonstrated.'' …“The committee's predominant policy concern remains the risk that inflation will fail to moderate as expected,'' the Fed said. Turning to growth prospects, the Fed said the economy is “likely to continue to expand at a moderate pace over coming quarters.''

In other words, little likelihood of a recession. For more information, contact us!