Economists Say Fed Will Hold Interest Rates Steady Today

by Patrick Lunsford, CollectionIndustry.com

Economists all over the country have reached the consensus that when the Federal Open Market Committee meets today, they will vote to hold interest rates at their current level.

“This seems like a good time to stay on hold because there really is a lot of uncertainty now,” Robert Dederick, a former Commerce Department economist and the president of RGD Economics, told MarketWatch.

The Fed is adopting a ?wait and see? approach to the economy since it is at such a critical juncture.

“We’ve reached that stage in the cycle where things could go a number of ways. The wisest thing would seem to stay there and look around,” Dederick said.

The Fed also paused on raising rates in August. The Fed funds rate now stands at 5.25%.