FOMC maintains target interest rate in 1.75-2.00% range

Eren Sengezer FXStreet

Following its 2-day meeting, the Federal Open Market Committee announced that it kept the benchmark interest rate unchanged in the target range of 1.75% - 2% in a widely expected decision. Below are key quotes from the monetary policy statement, via Reuters.

Economic activity has been rising at a strong rate; job gains have been strong in recent months and unemployment rate has stayed low.
Inflation remains near two percent, longer-term inflation expectations little changed.
Household spending and business fixed investment have grown strongly.
Repeats expects further gradual increases in fed funds rate will be consistent with sustained economic expansion, strong jobs market and inflation objective.
Near-term risks to the economy appear "Roughly balanced".
Repeats that stance of monetary policy remains accommodative.
Fed vote in favor of policy was unanimous.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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