Following the Federal Reserve’s decision to hold its interest rate target steady, Joint Economic Committee Chairman Erik Paulsen, R-Minn., noted:
"With the economy growing robustly for the first time in a decade, wage growth picking up, and inflation near the Fed’s 2 percent target, the Fed’s decision to hold rates steady seems prudent. I believe that Chairman Powell is on the right track to normalize monetary policy and to enable the full long-term growth effects of tax and regulatory reforms to be realized.
“I’m looking forward to the Joint Economic Committee’s hearing with Chairman Powell on December 5.”
Note: Today, the Federal Reserve’s Federal Open Market Committee decided to hold its interest rate target range at 2.00% to 2.25%.