Federal Reserve commits to the most boring chart ever

Defying all those who thought they might finally raise interest rates for the first time since the 2008, the Federal Reserves’ Open Market Committee kept its target interest rate at 0%-0.25% overnight.

If you plot all of the Fed’s target rates, the band within which interest rates are allowed to fluctuate, since they were first lowered in 2008, it looks something like this:

Not a blip.

Predictably, the decision had some pretty wild effects on markets, which has produced other, more stunning graphs.

But with only one member of the Open Markets Committee voting to raise the target so far, and Fed chair Janet Yellen citing problems maintaining the Fed’s inflation target, it might be a while yet before the Fed allows us to construct a more interesting chart.

H/T: Felix Salmon

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