During the period, the Federal Reserve Open Market Committee sustained the target range for the federal funds rate at 2.25 - 2.5%. Along with their rate plan, the Federal Reserve’s (Fed) monetary policy has been mostly restrictive over the past several years. The Fed has continued to drain reserves of depository institutions at a rate of nearly $20 billion per month since August 2014. The federal funds rate is in a neutral range relative to other measures of interest rates as well as inflationary trends. The Monetary Base topped at nearly $4.1 trillion in October 2015; as of May 2019 it has fallen to just over $3.2 trillion. At the June 19, 2019 Federal Reserve Open Market Committee (the Committee) meeting, the Committee released the following statement, in part: “Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent. The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective as the most likely outcomes, but uncertainties about this outlook have increased. In light of these uncertainties and muted inflation pressures, the Committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2 percent objective.”___________________________
Information contained herein was obtained from recognized statistical services and other sources believed to be reliable and we therefore cannot make any representation as to its completeness or accuracy. Any statements not of a factual nature constitute opinions which are subject to change without notice.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Saratoga Advantage Trust mutual funds. This and other important information about the Saratoga Advantage Trust's funds is contained in the prospectus, which can be obtained by clicking here, or by calling (800) 807-FUND, and which should be read carefully before investing. The Saratoga Advantage Trust's funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Saratoga Capital Management, LLC is not affiliated with Northern Lights Distributors, LLC. 7/19 © Saratoga Capital Management, LLC; All Rights Reserved.