When the Federal Open Market Committee met on Wednesday, they announced a 25-basis point increase in the benchmark federal funds interest rate range but made clear that it wasn't done.

Today's jobs report of 517,000 new positions and 3.4% unemployment rate, the lowest since May 1969, is more fuel for rate hike fodder, which would add pressure to short-term finance rates that are currently uncomfortable (although closer to historical norms than the ultra-low rates the last decade has seen).

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.