By Richard Roth, J.D., Editor, the Federal Banking Law Reporter, Bank Compliance Guide, Bank Digest; co-author, Dodd-Frank Wall Street Reform and Consumer Protection Act—Law, Explanation and Analysis
The Federal Open Market Committee decided at its two-day meeting ending Jan. 30, 2013, to make no changes in its current economic policy, leaving all of its stimulus measures in place. Specifically, the committee left the federal funds rate target at a range of 0 to .25 percent and said that it intended to continue purchasing agency mortgage-backed securities and Treasury securities.