FOMC Meeting Begins Tomorrow

The Fed starts it's 2-day FOMC meeting tomorrow with a statement coming on Wednesday afternoon at 2:15pm ET. We believe that there will be no change to the Fed Funds Rate currently standing at .25%, pegging the Prime Rate at 3.25%. The big discussion among members will be when the Fed will start to pull back on efforts to support the banking system, as well as lowering home loan rates by the purchasing of mortgage-backed securities.