As widely expected, the FOMC held the target for the fed funds rates steady at 1.50% to 1.75% today, after cutting the by
a cumulative 75 bps this year. There were a few changes to the statement this time around. The Fed added that it judges the current stance of monetary policy as appropriate to support the expansion and the committee eliminated risk assessments, noting that policy adjustments remain data dependent as they factor in global developments and inflationary pressures. The FOMC wrapped up 2019 monetary policy with a unanimous vote this meeting and forward guidance that suggests no rate changes through 2020.