The Federal Open Market Committee (FOMC) met on December 10-11. It was the committee's last scheduled meeting of the year and it culminated with a decision to leave the target range for the fed funds rate unchanged at 1.50-1.75%.
When 2019 began, the target range was 2.25-2.50%. There were three rate cuts this year, however, as the FOMC worried about downside risks tied to weak business investment, protectionist trade actions, weak growth abroad, and weakening inflation expectations.
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