Politics & MoneyMortgage

Fed Gov. Powell: Nothing is decided with interest rates

When will rates rise?

The jury is still out on when the Federal Reserve will raise rates, and according to Fed Governor Jerome Powell, nothing has been decided, including where he stands on the issue. Per Reuters:

"Nothing has been decided. I haven't made any decisions about what I would support, and certainly the committee hasn't," Powell said on CNBC.

"The economy is moving along about as expected … the labor market continues to be strong," he said. But "more recent data has been mixed," including a weaker than expected reading of employment compensation in the second quarter.

The most recent July Federal Open Market Committee meeting announcement once again reaffirmed its view that the current 0% to 0.25% target range for the federal funds rate remains appropriate, with no clear-cut signs of when this will change.

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