The National Association of Home Builders reported the highest builder confidence reading in seven months for May. May’s reading exceeded expectations for an index reading of 64 and rose three points to 67.
FOMC Statement: No Changes to Key Fed Rate
The meeting of the Federal Reserve’s Federal Open Market Committee ended Wednesday with the Committee’s customary post-meeting statement recapping monetary policy matters considered by the Committee. Members voted not to change the current target rate range of the federal funds rate. The current rate range of 2.25 percent to 2.50 percent.
