As expected, the FOMC in September held the Federal Funds rate flat in a target range of 5.25% to 5.50%. The process of balance sheet reduction (quantitative tightening) will continue at the previously communicated rate of $95 billion per month.

After a brief, one-meeting pause in June, the Fed’s Federal Open Market Committee (FOMC) raised the Federal Funds rate by .25% to a target range of 5.25% to 5.5%.

The Fed raised the Fed Funds rate by another 25 basis points to a range of 5.00% to 5.25%.