The Federal Open Market Committee on Wednesday held its benchmark federal funds rate unchanged at 5.25%. This is the second straight meeting with no change in policy after 17 straight meetings with a quarter-point rate hike. The decision to hold rates steady was expected by traders and economists on Wall Street. Economists said the Fed wants to "wait and see" how the economy develops. The vote was not unanimous. Jeffrey Lacker, president of the Richmond Fed, dissented for the second straight meeting in favor of a rate hike. The FOMC kept its flexibility to hike rates in future meetings because "some inflation risks remain." At the same time, the Fed said the economy is slowing. It said the moderation in economic growth partly reflects a cooling housing market.I believe we still have room to go higher.
Today's Stock Movers at 2:15 pm EST
Volume Momemtum Compared to normal days:
(Stock), (price), (+/-), (volume compared to normal)
Stocks Up:
(NREB) 28.13 +0.66 +709
(ORCL) 18.04 +1.91 +431
(CTCM) 24.00 +1.02 +326
(BDC) 39.03 +2.32 +270
(LHCG) 23.25 +0.95 +244
Stocks Down:
(MXRE) 23.10 -0.80 +1,485
(ETP) 44.35 -1.03 +456
(AVR) 21.09 -1.29 +286
(ANEN) 23.00 -0.82 +270
(ETE) 27.50 -0.50 +235
Tags: stocks midday
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