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Is no news good news?
That was the question Tuesday after the Federal Open Market Committee met and adjourned without changing short-term interest rates from the current 5.5 percent.
Some economists applauded the non-action, saying the Fed was looking at the economy with a fresh eye, while others predicted that the day of reckoning had only been postponed and that the delay would increase the rate increase when it comes, if not at the beginning of July, then in mid-August.
For now, many economists say the Fed kept quiet because there’s evidence of an economic slowdown after a rousing first quarter, when the economy galloped at annual pace of 5.6 percent. After such strong growth in the first quarter, a slowdown was almost inevitable.
