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As expected, the Fed didn't raise rates, and hinted it might pursue a less aggressive rate-hike schedule for 2016 than previously expected.
And due to concerns about current market turmoil, economists doubt the Fed will raise rates at its next meeting in March. For its part the Fed says it’s "closely monitoring global economic and financial developments,” Bloomberg reports.
Despite lingering fears of a recession in 2016—and the recent 6.5% decline in the S&P—the housing market looks to be in solid shape, buoyed by a 5.8% increase in home prices over the last year. [Bloomberg]
