The Federal Reserve Open Market Committee (FOMC) released their decision on the federal funds rate earlier today at the January meeting and maintained the rate at 5.25-5.50% for the fourth consecutive meeting.

The Labor Department reported that <strong>initial jobless claims</strong> increased last week, although still low by historical standards. Abnormally cold weather likely contributed to the uptick in seasonally adjusted claims. First time claims in regular state programs increased 25,000 to 214,000 from the prior week’s upwardly revised 189,000 for the week ending January 20th. The four-week moving average dropped to 202,250 from 203,750 the prior week. Continuing claims, which include people who have received unemployment benefits for a week or more, climbed 27,000 to 1.833 million for the week ending January 13th.

Alfred Ray, Vice President in Public Finance discusses why "The Stephens Approach," focused on achieving the best financing possible for our clients, is a key differentiator. From iconic venues such as the Louisiana Superdome, to vital institutions including the Arkansas Children’s Hospital, and even to small-town elementary schools in Texas, Stephens’ commitment is steadfast.