As expected, the Federal Reserve confirmed that it will be keeping interest rates exceptionally low, but did not say for how long exactly. That’s because the Fed did not set a date but a threshold for when it will begin to increase the interest rate again: an unemployment rate of 6.5 percent. Tying the increase to economic conditions provides more transparency for the public, said Fed Chairman Ben Bernanke after the Fed’s regular two-day policy-making meeting this week. One exception to the threshold is if inflation gets too high. Once the rate hits 2.5 percent, the Fed will start increasing the interest rate regardless of the unemployment rate.
The Illinois carrier recently raised $35 million through a stock offering.
One of the recorded votes on amendments was on a jab at short-term health insurance.
A Principal Financial executive represented life insurers at the hearing.
Sponsored by Fidelity Investments
Get insights into the mindset that’s driving today’s advisors to make a move--and help realize their unique business vision.
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.