LANSING (WWJ) – Could the Federal Reserve step in to try to stimulate the nation’s economy? WWJ and Fox2 Business Editor Murray Feldman said the Fed’s Policy Committee will make a statement Wednesday afternoon, following two days of meetings.
“The big news from the Fed might be no big news at all,” Feldman said. “They’ll just sit on the sidelines, watch the economic show play out and then jump in if they think something needs a tweak. The big change came last week when we learned the U.S. economy grew at its fastest pace in over a year.”READ MORE: Michigan Reports 16,590 New COVID-19 Cases, 127 Deaths
The Fed’s Policy Committee remains sharply divided over the central bank’s role. Conservative members say the Fed should back off while liberals say more needs to be done to shore-up the economy.
But Feldman doesn’t think the Fed will be making any drastic measures.READ MORE: Ford Delays Return To Office For 30,000 Workers Due To COVID Concerns
“Experts look to the Fed to remind us that the economy is fragile and that there are more tools the Fed can pick and use to adjust things along the way, but right now, they don’t think there’s any need for that,” Feldman said.
The Fed has already pledged to keep interest rates low until 2013. The announcement is scheduled for 2:15 Wednesday afternoon.MORE NEWS: New York City Announces First-In-The-Nation Vaccine Mandate For Private Companies
Stay with WWJ and CBSDetroit.com for the latest.