Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
The Federal Reserve announced Thursday afternoon that they will be holding the line on interest rates, extending to 10 years the amount of time since the last increase of the key interest rate.
The Federal Open Market Committee (FOMC) statement said they see “economic activity is expanding at a moderate pace. Household spending and business fixed investment have been increasing moderately, and the housing sector has improved further; however, net exports have been soft.”
The FOMC also said they focused on the slight increase in employment totals but also inflation below expectations and declines in energy prices and the cost of non-energy imports.
“To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate,” the FOMC statement read.
The Fed did increase their view of the economy for the year. They predict a 2.1% increase this year, up from a 1.9% prediction.
For the first time this year, the vote was not unanimous. Richmond Fed President Jeffrey Lacker voted to raise the rate.
