At the close of its March 18 meeting, the Federal Reserve Board issued a statement that modestly adjusted monetary policy regarding future interest rate changes. Although the change was slight, it is one that could ultimately impact U.S. construction activity.
In its newest statement, the Fed removed language that said it will be “patient” about an upcoming decision to raise interest rates. Removing this language is generally believed to open the door for the Fed to raise rates sometime later this year—possibly as early as June.